Taylor Morrison Home, a homebuilder and real estate developer, agreed to merge with William Lyon Homes, one of the largest Western US regional homebuilders, for $2.4bn. Taylor Morrison will acquire all of the outstanding shares of William Lyon Homes common stock for per share consideration of $2.50 in cash and 0.800 shares of Taylor Morrison common stock. "The combined business will represent a powerhouse of a builder that can meet the strong demand of entry-level and first-time move-up buyers—consumer segments that represent 85% of William Lyon's closings last year. We are excited to join forces with Taylor Morrison and draw upon their proven track record and greater access to scale efficiencies to meet consumer demand with a reputable, quality product," Matthew R. Zaist, William Lyon Homes president and CEO.