Taylor Morrison To Acquire William Lyon Homes; Acquisition Price At $2.4 Bln

(RTTNews) - Taylor Morrison Home Corp. (TMHC) has agreed to acquire all of the outstanding shares of William Lyon Homes (WLH) for per share consideration of: $2.50 in cash; and 0.800 shares of Taylor Morrison common stock. The deal implies a company value for William Lyon Homes of $21.45 per share or $2.4 billion including assumption of debt. Taylor Morrison stockholders will own approximately 77 percent of the combined company.

William Lyon, chairman of the board and holder of approximately 42 percent of the voting power of William Lyon Homes common stock, has agreed to support the transaction.