New York, Feb 13, 2026, 14:43 EST — Regular session
- Tri Pointe Homes shares were up 26.6% at $46.30, tracking a $47 per share cash buyout offer
- Sumitomo Forestry agreed to acquire the U.S. homebuilder in a deal valued at about $4.5 billion
- Investors are now watching the deal spread, proxy timing and Tri Pointe’s Feb. 25 results update
Shares of Tri Pointe Homes (TPH) jumped about 27% on Friday after Japan’s Sumitomo Forestry (1911.T) agreed to buy the U.S. homebuilder for $47 per share in cash, valuing the deal at about $4.5 billion. Tri Pointe was up 26.6% at $46.30 in afternoon trading, with roughly 19 million shares traded. (Reuters)
The move matters because it turns Tri Pointe into a stock that trades against a fixed cash payout, and investors quickly focus on one thing: closing risk. In homebuilding, that focus can shift fast when rates, demand and confidence move.
The companies said the offer is about 29% above Tri Pointe’s Feb. 12 close and roughly 42% above its 90-day volume-weighted average price, or VWAP — an average price weighted by trading volume. They expect the deal to close in the second quarter of 2026, subject to shareholder approval and other customary conditions, and the transaction is not subject to a financing condition; Tri Pointe will become a wholly owned subsidiary of Sumitomo Forestry America and the shares will be delisted once it closes. Tri Pointe also reiterated its outlook and said it still expects to report full fourth-quarter and full-year 2025 results on Feb. 25. (SEC)
Sumitomo Forestry President Toshiro Mitsuyoshi called the acquisition “a significant step forward” and pointed to a goal of 23,000 U.S. homes a year by 2030. Tri Pointe CEO Doug Bauer described the deal as “compelling cash value,” and President and COO Tom Mitchell said it brings “scale, capital, and resources,” according to the release. (Businessinsider)
Other builders moved higher alongside Tri Pointe. The iShares U.S. Home Construction ETF (ITB) rose 1.3%, while Taylor Morrison gained 6.1%, Meritage Homes added 5.3% and Century Communities rose 4.1%.
A securities filing showed Tri Pointe’s board approved the merger agreement and will recommend shareholders adopt it at a special meeting; the company said it plans to file a proxy statement with the SEC. (SEC)
The merger agreement includes a termination fee of about $82.3 million in certain cases, including if Tri Pointe terminates the deal to enter a superior proposal. (SEC)
But the deal is not closed, and the market is still pricing a small gap to the $47 cash offer — a gap that can widen quickly if timelines slip or conditions change. If the transaction stalls or breaks, the stock could slide back toward pre-offer levels.
Next, traders will watch for the proxy filing and the date of the shareholder vote, with Tri Pointe’s Feb. 25 results sitting in the middle of the process. The calendar then shifts to the second-quarter closing window, when the shares would stop trading if the merger goes through.
