Post-Buffett move by Berkshire Hathaway sends this stock soaring over 20%
The post Post-Buffett move by Berkshire Hathaway sends this stock soaring over 20% appeared on BitcoinEthereumNews.com. Taylor Morrison Home’s (NYSE: TMHC) stock surged more than 22% in pre-market trading on June 1 after Berkshire Hathaway (NYSE: BRK.B) announced plans to acquire the homebuilder. The all-cash deal, valued at approximately $6.8 billion, marks one of the first major strategic moves under Berkshire Hathaway CEO Greg Abel following Warren Buffett’s transition from chief executive to chairman earlier this year. Under the agreement announced on May 31, Berkshire Hathaway will acquire Taylor Morrison Home for $72.50 per share in cash, representing a 24% premium to the stock’s May 29 closing price of $58.50. Including debt, the transaction carries an enterprise value of roughly $8.5 billion. Taylor Morrison stock climbed to about $71.60 in pre-market trading, up approximately 22.5%. TMHC one-day stock price chart. Source: Google Finance The acquisition deepens Berkshire Hathaw