Berkshire Hathaway was long teased as the conglomerate that couldn’t find anything worthwhile to buy. Now, as the cash pile has swelled to $400 billion—it’s highest ever—and with a new CEO in charge, the firm is finally pulling the trigger.
Berkshire is buying the Taylor Morrison Home Corp., the country’s sixth-largest homebuilder, for $8.5 billion, or $72.50 a share in cash.
It’s Berkshire’s first major acquisition since Greg Abel became chief executive on Jan. 1, and Warren Buffett, now 95 and a chairman, made a point of standing back from it.
