Reuters: Tri Pointe Homes nearing purchase of Weyerhauser home unit

|By:, SA News Editor

Tri Pointe Homes (TPH) spiked before the close to a 6% gain on a Reuters report that the company is in advanced talks to buy Weyerhauser's (WY) homebuilding unit for ~$2.7B.

WY, which said in June it was reviewing strategic options for the homebuilding and real estate development unit, is said to be trying to finalize a sale to TPH as soon as in the next two weeks.

Taylor Morrison Home (TMHC) and Brookfield Residential Properties (BAM) are among the companies that also have been in talks with Weyerhaeuser about buying the division, according to the report.