The home building market of the Pacific Northwest is about to get a shake-up. Taylor Morrison just announced that it will buy William Lyon Homes, which had its most successful year to date in 2018. This acquisition means that Taylor Morrison will increase its investment in entry-level homes as that demand continues to grow.
Arizona-based Taylor Morrison, the nation’s seventh-largest homebuilder by revenue, said Tuesday it will buy William Lyon Homes, a California-based builder with a large footprint in the Pacific Northwest, as well as in Colorado and Texas.
The deal values William Lyon Homes at $2.4 billion, including the assumption of debt. This yields a purchase price multiple of 1.0 times book, according to Taylor Morrison.
Taylor Morrison will acquire all of the outstanding shares of William Lyon Homes common stock for per share consideration of $2.50 in cash and 0.80 shares of Taylor Morrison common stock.
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