Taylor Morrison, William Lyon hammer out final details of $2.4B homebuilder merger

Taylor Morrison Home Corp. is gearing up to buy William Lyon Homes in an effort to plant a bigger stake in the entry-level housing market. / Phoenix Business Journal

By Angela Gonzales | Phoenix Business Journal

Taylor Morrison Home Corp. is pounding out the final details of its proposed $2.4 billion acquisition of William Lyon Homes — a deal that will make the Scottsdale-based company the fifth-largest homebuilder in the nation.

As shareholders of both homebuilders are expected to vote on the deal on Jan. 30, Taylor Morrison (NYSE: TMHC) executives are tying up loose ends. If the Taylor Morrison and William Lyon shareholders give their approval, the deal could close by the end of February, company officials said.

On Jan. 23, William Lyon Homes (NYSE: WLH) reached an agreement to resolve two stockholder class action lawsuits filed on behalf of company stockholders in the U.S. District Court for the Central District of California and another class action lawsuit filed in the U.S. District Court for the District of Delaware, according to a filing with the U.S. Securities and Exchange Commission.

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