Deal, if approved, will create the nation’s 5th-largest home builder by closings.
Builder
Taylor Morrison Home Corporation (NYSE: TMHC) and William Lyon Homes (NYSE: WLH) Wednesday a definitive agreement under which 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 0.800 shares of Taylor Morrison common stock. The deal is valued at $2.4 billion.
Taylor Morrison shares were down more than 6% to $22.12 in heavy midday trading Wednesday.