Taylor Morrison seeks bondholder consent ahead of Berkshire merger

Taylor Morrison Home Corporation (NYSE: TMHC) announced that its subsidiary Taylor Morrison Communities, Inc. has launched consent solicitations to amend the indentures governing three series of senior notes, in connection with Berkshire Hathaway Inc.'s previously announced acquisition of TMHC.

The consent solicitations cover the subsidiary's 5.75% Senior Notes due 2028, 5.125% Senior Notes due 2030, and 5.750% Senior Notes due 2032. Holders of record as of July 15, 2026, are being asked to approve amendments to certain provisions of the indentures tied to the completion of the merger.

Eligible holders who submit consents by the expiration date of July 22, 2026, will receive a cash payment of $1.00 per $1,000 in principal amount of notes. The consent fee is contingent on receiving majority consents from holders of each series of notes and satisfaction of other conditions.

The amendments will not take effect until the consent fee is paid and the merger is completed. Berkshire Hathaway has indicated it intends to unconditionally guarantee each series of notes following the merger's consummation, though the company noted it has no formal obligation to do so and no assurance of such a guarantee was provided.

J.P. Morgan Securities LLC is serving as sole solicitation agent, and D.F. King & Co., Inc. is acting as information and tabulation agent for the consent solicitations. The issuer retains the right to extend, amend, or terminate any of the solicitations.

You May Also Be Interested In

• Intel mulls partnership for Ohio chip fab, SK Hynix among candidates - report
• Penske Automotive confirms $210-per-share take-private proposal
• NovaGold to reincorporate in Delaware via arrangement with Paulson