- Taylor Morrison Home Corp. (NYSE:TMHC) plans a reorganization that will create a new holding company to become the parent of Taylor Morrison Home Corp., a move that's intended to simplify the company's capital and tax structure and increase its operational flexibility.
- New Taylor Morrison has entered arrangements with certain holders of partnership units of TMM Holdings II Limited Partnership and related paired shares of class B common stock. After the reorganization, all of the TMM II outstanding partnership units and paired shares of class B common stock of New Taylor Morrison will be exchanged on a one-for-one basis for shares of class A common stock of the New Taylor Morrison.
- Current Taylor Morrison's stockholders will automatically become stockholders of New Taylor Morrison, on a one-for-one basis, with the same number of shares and same ownership percentage of the same corresponding class of Current Taylor Morrison common stock that they held immediately prior to the reorganization.
- Previously: Taylor Morrison closes AV Homes acquisition (Oct. 2)
- Now read: Why Are Homebuilders Struggling?
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