Taylor Morrison closes William Lyon acquisition
Feb. 06, 2020 9:37 AM ETTaylor Morrison Home Corporation (TMHC), WLHTMHC, WLHBy: Yoel Minkoff, SA News Editor
- Taylor Morrison (TMHC) has acquired all of the outstanding shares of William Lyon Homes (NYSE:WLH) common stock for per share consideration of (1) $2.50 in cash and (2) 0.800 shares of Taylor Morrison common stock, which ultimately yields an attractive book value multiple of 1.1.
- The combined company will have a portfolio of approximately 80,000 owned and controlled lots and about 430 active selling communities at time of close.
- It will also create the nation's fifth largest homebuilder based on LTM of closings, and firmly places Taylor Morrison in a Top 5 position in 16 of the combined 22 markets with more than 14,000 closings estimated in 2020.