PREM14A ·Filed Jun 12, 2026

TMHC

Taylor Morrison Home Corp
BULLISH
Impact 7/10
Horizonweeks Processed3mo ago SEC0001193125-26-269722
Preliminary proxy statement (merger-related)
Actionable Insight ▲ Bullish

TMHC stock should trade near the deal price of $72.50 with a narrow merger-arb spread reflecting time to close and regulatory risk. Monitor HSR clearance progress and the special meeting date. The deal carries low financing risk given Berkshire's cash resources. Any widening of the spread may present an arbitrage entry opportunity if deal-breaker risks appear manageable.

DirectionBullish
Confidencehigh
Horizonweeks
Latest settled — T+20d ⚠ clustered
TMHC ▼ -0.11% at T+20d
LONG call ✗ call lost -0.11% · α vs SPY +0.64% · entry $71.95 → $71.87
Next anchor: T+60d due 23d ago
Latest observation: T+27 -3.03% FF3 residual α
Entry anchored
Jun 12, 03:59 PM ET
via exchange tick
T+1d
-0.15%
call -0.15% · α +0.44%
$71.84
settled 4mo ago
T+5d
-0.49%
call -0.49% · α +0.90%
$71.60
settled 3mo ago
T+20d
-0.11%
call -0.11% · α +0.64%
$71.87
settled 3mo ago
T+60d
—
call — · α —
—
due 23d ago

Price Chart

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Executive Summary

Berkshire Hathaway's $72.50/share all-cash acquisition of Taylor Morrison (TMHC) is proceeding to a stockholder vote. The preliminary proxy confirms unanimous board approval, fairness opinions from Goldman Sachs and Moelis, and a $221.6M termination fee (3.25% of equity). The merger is expected to close in H2 2026, subject to stockholder approval and HSR antitrust clearance. This filing formalizes the shareholder solicitation process.

Key Financial Metrics

Deal Value
$6.9B
Premium
24%
Deal Type
merger

Key Facts

  • Berkshire Hathaway to acquire TMHC for $72.50 per share in all cash
  • Premium of ~24% over TMHC's $58.50 close on May 29, 2026
  • Transaction valued at approximately $6.87 billion in equity
  • Unanimous board recommendation; both Goldman Sachs and Moelis issued fairness opinions
  • No financing condition — Berkshire to fund from existing cash resources
  • Stockholder approval requires majority of outstanding shares; meeting to be held virtually
  • Termination fee of $221,622,677 payable by TMHC under certain circumstances
  • Expected closing in second half of 2026

Financial Impact

$72.50 per share cash consideration (~24% premium over $58.50 pre-announcement close); aggregate equity value ~$6.87 billion based on 91.99M shares outstanding

stock priceequity value

Risk Factors

  • Stockholder vote failure (unlikely given major institutional holders)
  • HSR regulatory delay or challenge
  • Adverse market conditions delaying closing beyond H2 2026
  • Termination fee of $221.6M could discourage competing bids

Market Snapshot

Exchange
NYSE
Sector
Operative Builders
Analyst Consensus
81% bullish (16 analysts)

Investment Themes

Industrials & Manufacturing

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

DocumentAccession Number
PREM14A Filing (Primary)0001193125-26-269722
Document: d57916dexfilingfees.htm0001193125-26-269722
Document: 0001193125-26-269722-index-headers.html0001193125-26-269722
Document: 0001193125-26-269722-index.html0001193125-26-269722
Document: 0001193125-26-269722.txt0001193125-26-269722
17 reports for TMHC
Performance horizon
82% Hit rate 9 of 11 directional calls best @ T+20▲ +15.11%Apr 22, 2026
Filters
Rows
Reports for TMHC — sortable, filterable
TypeNow
Aug 4, 2026
8w ago
15-12G
NEUTRAL ★ 3/10
—awaiting T+5——
Jul 24, 2026
10w ago
8-K
BULLISH ★ 8/10
$72.45 awaiting T+5awaiting T+5——
Jul 24, 2026
10w ago
25-NSE
BULLISH ★ 7/10
$72.45 awaiting T+5awaiting T+5——
Jul 18, 2026
10w ago
Institutional Cluster
BEARISH ★ 6/10
$72.44 $72.45▼ −0.01%▼ −0.44%—
Jul 7, 2026
12w ago
8-K
BULLISH ★ 6/10
$71.77 $71.94▲ +0.24%▼ −0.31%—
Jun 23, 2026
14w ago
DEFM14A
BULLISH ★ 8/10
$71.93 $71.73▼ −0.28%▼ −1.99%—
Jun 12, 2026
15w ago
PREM14A
BULLISH ★ 7/10
$71.95 $71.60▼ −0.49%▲ +0.90%—
Jun 12, 2026
15w ago
DEFA14A
BULLISH ★ 7/10
$71.95 $71.60▼ −0.49%▲ +0.90%—
Jun 5, 2026
17w ago
DEFA14A
BULLISH ★ 7/10
$71.53 $71.90▲ +0.52%▼ −0.05%—
Jun 5, 2026
17w ago
DEFA14A
BULLISH ★ 8/10
$71.53 $71.90▲ +0.52%▼ −0.05%—
Showing 10 of 17

US Market Status

Market Closed — Opens Mon (65h 28m)

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