M&A · Industrials · Operative Builders
Sumitomo Forestry Co., Ltd. to acquire TRI Pointe Homes, Inc.
Announced Feb 13, 2026 · Closed May 14, 2026
Deal value$4.50BEV $3.97B
Premium29.0%To unaffected price
EV / Adj. EBITDA8.2x1.1x EV / Revenue
ConsiderationAll cash$47.00 per share
Transaction
- Acquirer
- Sumitomo Forestry Co., Ltd.
- Target
- TRI Pointe Homes, Inc. (TPH)
- Buyer type
- Strategic
- Offer price per share
- $47.00
- Enterprise value
- $3.97B
- Status
- Closed May 14, 2026
Deal protections
- Break fee (target pays)
- $82.3M · 1.8%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- MUFG, Morgan Stanley
- To the target
- Moelis
- Moelis fee
- $5.0M
Sector context · Industrials
- Comparable deals
- 95 in the prior 24 months
- Premium
- 29.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 8.2x vs. 10.7x sector median
- Break fee
- 1.8% vs. 2.5% sector median
Timeline
- AnnouncedFeb 13, 2026
- Proxy filedMar 4, 2026
- Definitive proxyMar 17, 2026
- Shareholder voteApr 15, 2026
- ClosedMay 14, 2026
Valuation · fairness opinions
Discounted cash flow$29.70$45.69
Trading comparables$30.85$45.37
Precedent transactions$39.92$50.81
Analyst price targets$31.50$46.00
52-week trading range$28.96$37.14
Offer $47.00
Implied value per TRI Pointe Homes, Inc. share by analysis, from Moelis.