By Tim Gallen | Phoenix Business Journal
AV Homes has set Sept. 26 for a shareholder meeting to approve the Scottsdale-based homebuilder’s proposed merger with Taylor Morrison Home Corp., according to a regulatory filing.
The meeting will be held at AV Homes’ Scottsdale headquarters, 6730 N. Scottsdale Road, Suite 150, at 8 a.m.
Stockholders as of Aug. 24 will vote on the deal, which will net AV stockholders a total of $963 million. Per the merger agreement, shareholders will have the option to receive either $21.50 per common share in cash, 0.9793 shares of Taylor Morrison Class A common stock or the combination of $12.64 in cash and 0.4034 shares of Taylor Morrison Class A stock subject to an overall proration of approximately 60 percent cash and 40 percent stock.
