Anywhere Real Estate Stock Jumps on $10 Billion Compass Merger

Core Viewpoint - Compass is acquiring Anywhere Real Estate, which owns Century 21 and Coldwell Banker, in an all-stock transaction valued at approximately $10 billion, creating a significant player in the real estate brokerage industry [2][5]. Group 1: Acquisition Details - The acquisition involves Anywhere investors receiving 1.436 Compass shares for each share they own, valuing Anywhere shares at $13.01, which represents an 84% premium over its closing price prior to the announcement [3][5]. - Following the acquisition, Compass shareholders will control 78% of the new company, while Anywhere investors will hold the remaining 22% [3][5]. Group 2: Market Reaction - The announcement led to a nearly 60% increase in Anywhere shares during morning trading, while Compass shares experienced a decline [2][5]. Group 3: Leadership and Future Outlook - Robert Reffkin, the founder and CEO of Compass, will continue as CEO of the combined firm, emphasizing the goal of creating a thriving environment for real estate professionals [4]. - The transaction is anticipated to close in the second half of the following year [4].