Wall Street Breakfast Podcast: Berkshire Builds On Taylor

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Berkshire Hathaway (BRK.B) to acquire Taylor Morrison (TMHC) in $8.5B deal. (00:20) Yum! Brands (YUM) in exclusive talks to sell Pizza Hut to LongRange – report. (01:26) Salesforce (CRM) to invest $2B in France through 2030. (02:24)

This is an abridged transcript.

Berkshire Hathaway (BRK.A) (BRK.B) has agreed to acquire homebuilder Taylor Morrison Home Corp. (TMHC) in an all-cash transaction valued at approximately $8.5 billion, the companies announced Sunday.

Under the terms of the agreement, Berkshire will pay $72.50 per share for Taylor Morrison, representing a 24% premium to the company’s closing stock price of $58.50 on May 29. The deal values Taylor Morrison’s equity at roughly $6.8 billion and its enterprise value at approximately $8.5 billion.

The acquisition is expected to close during the second half of 2026, subject to customary closing conditions. After the transaction is completed, Taylor Morrison will become a privately held company.

The deal marks one of Berkshire Hathaway’s largest acquisitions in recent years and signals a significant vote of confidence in the long-term outlook for U.S. housing despite elevated mortgage rates and affordability concerns.

TMHC is up 21% in premarket action.

Yum! Brands (YUM) is in exclusive discussions to sell its Pizza Hut chain to LongRange Capital.

According to a Bloomberg report, which cited people familiar with the matter, Yum (YUM) entered the exclusive talks in recent days, beating out offers from Sycamore.

The parties are moving ahead with a potential deal in several weeks.

Yum, LongRange, and Sycamore declined to comment to Bloomberg.

Yum (YUM) launched a formal strategic review of the Pizza Hut chain in November, actively considering a possible sale or other options as the business faces ongoing struggles in the U.S. and continues to post declining sales.

PepsiCo (PEP) acquired Pizza Hut in November 1977 and held it for twenty years before spinning it off along with Taco Bell and KFC into a new company called Tricon Global Restaurants, which was later renamed Yum! Brands (YUM).

Salesforce (CRM) plans to invest $2B in France through 2030, including the launch of a new AI Innovation Hub in Paris and expanded support for AI education, workforce training, customers and partners in the country.

The plans were announced at the Choose France summit and build on Salesforce’s previous five-year commitment of $3.5B to support its operations in France.

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• Snowflake Summit 26 will begin in San Francisco. Snowflake’s (SNOW) four-day flagship conference will be focused on “Making AI Real for Business,” with heavy emphasis on enterprise data, generative/agentic AI, and applications.

Stock index futures are higher as Wall Street hopes to kick off the new month on a positive note.

Investors remain focused on any updates regarding the U.S.-Iran deal. President Trump said Monday that Iran “really wants to make a deal.”

Crude oil is up 4.3% at $91. Bitcoin is down 0.9% at $72,000. Gold is down 1% at $4,497.

The FTSE 100 is down 0.1% and the DAX is up 0.1%.

Economic calendar: