Shareholders should vote FOR the merger proposal to receive the $72.50 cash premium. The deal carries low execution risk given Berkshire's cash resources and no financing condition. Monitor HSR clearance and any competing bids before the July 22 vote.
Price Chart
Executive Summary
Berkshire Hathaway is acquiring Taylor Morrison Home Corp for $72.50 per share in an all-cash deal valued at approximately $8.5 billion enterprise value. The definitive merger proxy sets a shareholder vote for July 22, 2026, with the board unanimously recommending approval. The 24% premium over the unaffected price and Berkshire's cash financing provide high deal certainty.
Key Financial Metrics
Key Facts
- $72.50 per share in cash, representing a ~24% premium over the May 29, 2026 closing price of $58.50
- Unanimous board recommendation; special meeting scheduled for July 22, 2026
- Simple majority of outstanding shares required for approval; appraisal rights available under Delaware law
- Termination fee of $221,622,677 payable by TMHC under certain circumstances
- Goldman Sachs and Moelis each issued fairness opinions; combined advisory fees estimated at ~$93.8 million contingent on closing
- HSR waiting period condition; filing made June 4, 2026; no financing condition
Financial Impact
$72.50 per share cash consideration; ~$8.5 billion enterprise value; ~$6.8 billion equity value
Risk Factors
- Antitrust review under HSR Act could delay or impose conditions
- Shareholder vote failure if sufficient votes not obtained (unlikely given premium)
- Market or macroeconomic changes could affect closing timeline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFM14A Filing (Primary) | 0001193125-26-279627 |
| Document: d57916ddefm14a.htm | 0001193125-26-279627 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 8w ago | 15-12G | — | awaiting T+5 | — | — |
Jul 24, 2026 10w ago | 8-K | $72.45 awaiting T+5 | awaiting T+5 | — | — |
Jul 24, 2026 10w ago | 25-NSE | $72.45 awaiting T+5 | awaiting T+5 | — | — |
Jul 18, 2026 10w ago | Institutional Cluster | $72.44 $72.45 | ▼ −0.01% | ▼ −0.44% | — |
Jul 7, 2026 12w ago | 8-K | $71.77 $71.94 | ▲ +0.24% | ▼ −0.31% | — |
Jun 23, 2026 14w ago | DEFM14A | $71.93 $71.73 | ▼ −0.28% | ▼ −1.99% | — |
Jun 12, 2026 15w ago | PREM14A | $71.95 $71.60 | ▼ −0.49% | ▲ +0.90% | — |
Jun 12, 2026 15w ago | DEFA14A | $71.95 $71.60 | ▼ −0.49% | ▲ +0.90% | — |
Jun 5, 2026 17w ago | DEFA14A | $71.53 $71.90 | ▲ +0.52% | ▼ −0.05% | — |
Jun 5, 2026 17w ago | DEFA14A | $71.53 $71.90 | ▲ +0.52% | ▼ −0.05% | — |
US Market Status
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