Taylor Morrison to acquire AV Homes

Deal, valued at $963 million, expected to close in Q3.

Builder

Taylor Morrison Home Corporation (NYSE: TMHC) and AV Homes, Inc. (NASDAQ: AVHI), both based in Scottsdale, Arizona, on Thursday announced they have entered into a definitive agreement under which Taylor Morrison will acquire all of the outstanding shares of AV Homes common s
tock at $21.50 per share in a cash and stock transaction valued at approximately $963 million. The deal includes the assumption of AV Homes outstanding debt

Shares of AV soared on the news, jumping from $16.50 to $20.80 in pre-market trading Thursday.

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