Warren Buffett’s Successor, Greg Abel, Just Made His First Big Acquisition as CEO of Berkshire Hathaway.
Here’s What Investors Need to Know Greg Abel has only been CEO of Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) for about five months, but he’s already making some big moves
Over the weekend, Berkshire announced that it has agreed to acquire Taylor Morrison Homes (NYSE:TMHC) for $72.50 per share in cash, valuing the company at about $6.8 billion. The deal represents a 24% premium to Taylor Homes’ closing price on Friday. The stock is up about 22.4%, as of 12:04 p.m.
ET. Warren Buffett, who stepped down as CEO at the end of last year but remains chair of Berkshire’s board of directors, was pleased with the deal. “Greg did that faster than I could have done it, smoother than I could have done it, and I never talked to the CEO. He has launched,” he told CNBC.