Berkshire Hathaway is acquiring homebuilder Taylor Morrison in its first big deal under Greg Abel

The all-cash deal marks one of the first major moves under CEO Greg Abel and expands Berkshire's footprint in U.S. housing

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Berkshire Hathaway $BRK.B agreed to acquire Taylor Morrison Home Corporation in an all-cash deal with a total enterprise value of approximately $8.5 billion, the companies announced Sunday.

The purchase price of $72.50 per share in cash represents a 24% premium over where Taylor Morrison shares closed on May 29, at $58.50. At that price, the equity value of the transaction works out to approximately $6.8 billion. Shares of Taylor Morrison jumped 22% in premarket trading after the announcement, according to........

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