Berkshire Hathaway acquires Taylor Morrison for $6.8 billion as new CEO signals management shift
By
Josh Funk
Summary
Berkshire Hathaway's new CEO Greg Abel announced a $6.8 billion cash acquisition of homebuilder Taylor Morrison, signaling a potential shift from Warren Buffett's long-standing hands-off management approach. Abel plans to consolidate Taylor Morrison with Berkshire's existing homebuilding operations under Clayton Homes, suggesting a more active management style than Buffett's traditional model of leaving acquired companies to operate independently.
Source
bskyBerkshire Hathaway acquires Taylor Morrison for $6.8 billion as new CEO signals management shiftbit.lyKey quotes
· 4 pulledBerkshire Hathaway's new CEO Greg Abel hinted that he may depart from Warren Buffett's longtime hands-off operating model at the conglomerate as he announced a $6.8 billion acquisition of homebuilder Taylor Morrison.
Abel suggested in the deal announcement he plans to consolidate Taylor Morrison with Berkshire's existing site-built homebuilding operations that are part of its Clayton Homes subsidiary.
For six decades under Buffett, Berkshire promised to largely leave companies alone after it acquired them and allow the executives to keep running the day-to-day operations the same way.
But Abel is known a much more active manager than Buffett ever was.
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