Paulson eyes up Taylor Wimpey’s US business

HOUSEBUILDER Taylor Wimpey has received at least three bids for its North American assets, which could be worth about £600m, according to reports last night.

Hedge fund billionaire John Paulson’s Rain Tree Investment, Barry Sternlicht’s Starwood Capital Group and a private US homebuilder have submitted bids for Taylor Morrison, the firm’s arm in North America.

Both Rain Tree and Starwood reportedly bid the branch’s book value, which analysts put at about £600m. Taylor Wimpey hired JPMorgan Chase last year to sell its US and Canadian assets, and said in its trading update on Tuesday that it was in the early stages of evaluating several interested bidders.

Taylor Wimpey was unavailable for comment last night.