RESOLVING THE LEDGER
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Greg Abel is a longtime colleague of the now-retired Warren Buffett, and the new CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) . likely made his first big acquisition as Berkshire's boss with Buffett in mind. On July 24, Berkshire Hathaway completed its acquisition of homebuilder Taylor Morrison at a total equity value of $6.8 billion.
Many Berkshire investors will wonder whether this deal means that Abel will become more aggressive in deploying Berkshire's hundreds of billions of dollars in cash . No matter what Abel does next with the rest of his company's cash holdings, this acquisition of Taylor Morrison could be a good sign for other homebuilder stocks.
With the addition of Taylor Morrison, Berkshire Hathaway now owns homebuilding operations in 21 states and 52 housing markets. The acquisition shows that Abel is taking a long-term bullish position on the U.S. housing market .
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