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Taylor Morrison Completes Synthetic Secondary Offering

Paul, Weiss represented Taylor Morrison Home Corporation in the public offering of 10,000,000 shares of its Class A common stock. The net proceeds from the offering were used to purchase partnership units in Taylor Morrison’s direct subsidiary, along with shares of Taylor Morrison’s Class B common stock, held by its current equity sponsors that are affiliates of and funds managed by TPG Global, LLC and Oaktree Capital Management, L.P. The aggregate number of partnership units and corresponding shares of Class B common stock purchased by Taylor Morrison were equal to the number of shares of Class A common stock sold in the offering. The joint book-running managers and underwriters for the offering were Credit Suisse, Citigroup and J.P. Morgan. The offering closed on March 27.

The Paul, Weiss team included corporate partners John Kennedy and Lawrence Wee; and tax partner David Mayo.

March 27, 2017

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