Merger of Scottsdale homebuilders moves forward

A merger between two Scottsdale-based homebuilders moved closer to completion this week.

At a special meeting Sept. 26, shareholders of AV Homes (Nasdaq: AVHI) approved a merger deal with Taylor Morrison Home Corp. (NYSE: TMHC) in a cash and stock deal totaling $963 million.

AV’s board of directors previously approved the move, which was announced by the homebuilders in June.

Per the merger agreement, shareholders will have the option to receive either $21.50 per common share in cash, 0.9793 shares…

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