Buffett Successor’s Debut: Cuts Chevron Stake, $8.5 Billion Taylor Morrison Acquisition

TradingKey - On May 31, Eastern Time, Berkshire Hathaway (BRK.A) agreed to acquire residential homebuilder Taylor Morrison Home (TMHC) in an all-cash deal at $72.50 per share. This represents a premium of approximately 24% over the stock's closing price last Friday, valuing the equity at approximately $6.8 billion and the total enterprise value at $8.5 billion including debt. Meanwhile, the company’s first-quarter position disclosure revealed that it reduced its holdings in Chevron (CVX) by approximately $8 billion.