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Berkshire’s Taylor Morrison (TMHC) acquisition clears key HSR antitrust step

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Taylor Morrison Home Corporation reported that the Hart-Scott-Rodino antitrust waiting period for its planned merger with Berkshire Hathaway Inc. expired at 11:59 p.m. Eastern Time on July 6, 2026. This clears a key U.S. antitrust hurdle for the all-cash acquisition previously announced between the companies.

The merger still depends on other required regulatory approvals, a majority vote by Taylor Morrison stockholders to adopt the merger agreement, and additional customary closing conditions. The company also highlights numerous risks that could delay, alter, or prevent completion of the transaction, including potential litigation, business disruptions, and possible termination of the deal under certain circumstances.

Positive

  • HSR antitrust review milestone achieved: The Hart-Scott-Rodino waiting period for Berkshire Hathaway’s acquisition of Taylor Morrison expired on July 6, 2026 at 11:59 p.m. Eastern Time, removing a key U.S. antitrust condition to closing.

Negative

  • None.

Insights

HSR clearance is a major milestone, but the Berkshire acquisition is still conditional.

The expiration of the Hart-Scott-Rodino waiting period removes a central U.S. antitrust barrier to Berkshire Hathaway’s proposed acquisition of Taylor Morrison. This is a required regulatory step and typically signals no antitrust challenge by U.S. agencies under this statute.

However, the deal is not yet complete. It remains subject to other regulatory approvals, a favorable vote by holders of a majority of Taylor Morrison’s outstanding common stock, and various customary closing conditions. The company also lists risks such as potential litigation, business disruptions during the pendency of the deal, and possible termination events, including scenarios that could trigger a termination fee.

From an investor perspective, the filing mainly updates regulatory status rather than economics. The key next milestones described are remaining regulatory clearances and the shareholder vote to adopt the merger agreement, as outlined in the definitive proxy statement mailed to stockholders.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
HSR waiting period expiration July 6, 2026, 11:59 p.m. ET Hart-Scott-Rodino waiting period for Berkshire Hathaway merger
Agreement and Plan of Merger financial
"entered into an Agreement and Plan of Merger (the “Merger Agreement”)"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Hart-Scott-Rodino Antitrust Improvements Act of 1976 regulatory
"expiration or termination of the waiting period applicable to the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976"
HSR Waiting Period regulatory
"The HSR Waiting Period expired at 11:59 pm Eastern Time on July 6, 2026."
The HSR waiting period is a set amount of time that must pass after a large business deal is announced before it can be finalized or approved by regulators. Think of it as a review period, similar to a cooling-off time, allowing authorities to evaluate the deal for potential competition concerns. This waiting period can influence the timing of a company's growth plans and impact investor expectations.
forward-looking statements regulatory
"This contains “forward-looking statements” within the meaning of Section 27A of the Securities Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
termination fee financial
"the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction, including in circumstances requiring the Company to pay a termination fee"
A termination fee is a payment required if one party ends a contract before its agreed-upon end date. It acts like a penalty or compensation to the other party for canceling early, similar to a fee you might pay for breaking a lease or canceling a service contract. For investors, it matters because it can influence a company's decisions and financial obligations related to ending agreements prematurely.
proxy statement regulatory
"The definitive proxy statement has been mailed to stockholders of Taylor Morrison Home Corporation."
A proxy statement is a document companies send to shareholders ahead of a meeting that lays out the items up for a vote—like who will sit on the board, executive pay, and major corporate decisions—and provides background so shareholders can decide how to cast their votes or appoint someone to vote for them. Think of it as an agenda plus a ballot and briefing notes, important because the outcomes can change control, strategy, and value.
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FAQ

What did Taylor Morrison (TMHC) announce about the Berkshire Hathaway merger?

Taylor Morrison announced that the Hart-Scott-Rodino antitrust waiting period for its planned merger with Berkshire Hathaway expired on July 6, 2026, at 11:59 p.m. Eastern Time. This satisfies an important U.S. antitrust condition but does not yet complete the transaction.

Does HSR waiting period expiration mean the Taylor Morrison–Berkshire deal is finalized?

No, HSR expiration is only one condition. The merger still requires other regulatory approvals, adoption of the merger agreement by holders of a majority of Taylor Morrison’s outstanding common stock, and satisfaction of additional customary closing conditions described in the merger agreement.

What risks to the Berkshire acquisition does Taylor Morrison (TMHC) highlight?

Taylor Morrison lists risks including failure to satisfy remaining conditions, potential litigation, stock price fluctuations if the deal is not completed, business disruption during the pendency, costs or delays related to the transaction, and possible termination events that could involve a termination fee.

How can Taylor Morrison (TMHC) investors access the proxy statement for the Berkshire merger?

Investors can obtain the definitive proxy statement and related documents for free on the SEC’s website at www.sec.gov or through Taylor Morrison’s investor relations site. Copies are also available by written request or email to the company’s investor relations department in Scottsdale, Arizona.

What shareholder approval is required for the Taylor Morrison–Berkshire transaction?

Completion of the merger requires adoption of the merger agreement by holders of a majority of Taylor Morrison’s outstanding common stock entitled to vote. A definitive proxy statement describing this vote has been mailed to stockholders for use in soliciting their proxies.

Who may be considered participants in soliciting proxies for the Taylor Morrison (TMHC) merger vote?

Taylor Morrison, its directors, and certain executive officers and employees may be deemed participants in the proxy solicitation. Information about their interests and security holdings is provided in the merger proxy statement and the company’s 2026 annual meeting proxy filing.
Taylor Morrison Home Corp false 0001562476 0001562476 2026-07-06 2026-07-06
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 6, 2026

 

 

TAYLOR MORRISON HOME CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-35873   83-2026677
(State or Other Jurisdiction
of Incorporation)
 

(Commission

File Number)

  (IRS Employer
Identification No.)

4900 N. Scottsdale Road, Suite 2000

Scottsdale, Arizona 85251

(Address of Principal Executive Offices, including zip code)

(480) 840-8100

(Registrant’s telephone number, including area code)

Former Name or Former Address, If Changed Since Last Report: N/A

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 


Name of each class

 

Trading
Symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $0.00001 per share   TMHC   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 8.01 Other Events.

As previously disclosed, on May 31, 2026, Taylor Morrison Home Corporation, a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 31, 2026, with Berkshire Hathaway Inc., a Delaware corporation (“Parent”), and WXYZ Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger and a wholly owned subsidiary of Parent.

Among other things, the completion of the Merger is conditioned upon the expiration or termination of the waiting period applicable to the Merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Waiting Period”). The HSR Waiting Period expired at 11:59 pm Eastern Time on July 6, 2026. The closing of the Merger remains subject to the receipt of other required regulatory approvals, adoption of the Merger Agreement by the holders of a majority of the Company’s outstanding common stock entitled to vote thereon, as well as other customary closing conditions.

Forward-Looking Statements

This Form 8-K contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include, but are not limited to, statements concerning the Company’s expectations, plans, intentions, strategies or prospects with respect to the proposed Merger. These statements are often identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “hope,” “hopeful,” “likely,” “optimistic,” “possible,” “potential,” “preliminary,” “project,” “should,” “will,” “would” or the negative or plural of these words or similar expressions or variations. Forward-looking statements are made based upon management’s current expectations and beliefs and are not guarantees of future performance. Such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. These factors include, among others: (i) the ability of the parties to complete the proposed transaction on the anticipated terms and timing, or at all, (ii) the satisfaction or waiver of other conditions to the completion of the proposed transaction, including obtaining required shareholder and regulatory approvals; (iii) the risk that the Company’s stock price may fluctuate during the pendency of the proposed transaction and may decline if the proposed transaction is not completed; (iv) potential litigation relating to the proposed transaction that could be instituted against the Company or its directors or officers, including the delay, expense or other effects of any outcomes related thereto; (v) the risk that disruptions from the proposed transaction will harm the Company’s business, including current plans and operations, including during the pendency of the proposed transaction; (vi) the ability of the Company to retain, motivate, and hire key personnel; (vii) the diversion of management’s time and attention from ordinary course business operations to completion of the proposed transaction and integration matters; (viii) potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the proposed transaction; (ix) legislative, regulatory and economic developments; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect the Company’s financial performance; (xi) certain restrictions during the pendency of the proposed transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or global pandemics, as well as management’s response to any of the aforementioned factors; (xiii) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiv) unexpected costs, liabilities or delays associated with the transaction; (xv) the response of competitors to the transaction; (xvi) the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction, including in circumstances requiring the Company to pay a termination fee; and (xvii) other risks set forth under the heading “Risk Factors,” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and in the Company’s subsequent filings with the Securities and Exchange Commission (“SEC”). You should not rely upon forward-looking statements as predictions of future events. Actual results and outcomes could differ materially from the results described in or implied by such forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update or revise these forward-looking statements.


Additional Information and Where to Find It

This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed acquisition of Taylor Morrison Home Corporation by Berkshire Hathaway Inc. In connection with this proposed acquisition, Taylor Morrison Home Corporation has (or may) file one or more proxy statements or other documents with the SEC. This communication is not a substitute for any proxy statement or other document that Taylor Morrison Home Corporation has filed or may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF TAYLOR MORRISON HOME CORPORATION ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS THAT HAVE BEEN (OR MAY BE) FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION. The definitive proxy statement has been mailed to stockholders of Taylor Morrison Home Corporation. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Taylor Morrison Home Corporation through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Taylor Morrison Home Corporation are available free of charge on Taylor Morrison Home Corporation’s internet website at https://investors.taylormorrison.com/investor-relations/default.aspx or upon written request to: Investor Relations, Taylor Morrison Home Corporation, 4900 N. Scottsdale Road, Suite 2000, Scottsdale, Arizona 85251, or by email at investor@taylormorrison.com.

Participants in Solicitation

Taylor Morrison Home Corporation, its directors and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Taylor Morrison Home Corporation is set forth in the proxy statement filed with the SEC on June 23, 2026 and its proxy statement for its 2026 annual meeting of stockholders, which was filed with the SEC on April 10, 2026. To the extent that holdings of Taylor Morrison Home Corporation’s securities by its directors or executive officers have changed since the amounts set forth in the 2026 Proxy for its 2026 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 Filed with the SEC.

Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the proxy statement relating to the proposed transaction and other relevant materials filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    TAYLOR MORRISON HOME CORPORATION
Date: July 7, 2026  

 

  By:  

/s/ Todd Merrill

      Todd Merrill
      Executive Vice President, Chief Legal Officer and Secretary

Filing Exhibits & Attachments

3 documents