Core Viewpoint - Compass Inc. and Anywhere Real Estate Inc. announced a $10 billion all-stock merger, aiming to create a leading real estate platform that enhances support for agents, franchisees, home sellers, and buyers [1][4]. Group 1: Merger Details - The merger will unite approximately 340,000 real estate professionals across 120 countries, significantly expanding international reach and client solutions [2]. - Each Anywhere share will be exchanged for 1.436 Compass Class A shares, valuing Anywhere stock at $13.01 based on Compass' 30-day average price as of September 19, 2025 [2]. - The transaction is expected to close in the second half of 2026, with Compass shareholders holding about 78% and Anywhere investors owning roughly 22% of the combined company [3]. Group 2: Financial Aspects - Compass has secured a $750 million financing commitment from Morgan Stanley Senior Funding and plans to reduce debt post-merger, targeting a net leverage of about 1.5 times adjusted EBITDA by the end of 2028 [3]. - The merger diversifies Compass' revenue with over $1 billion from Anywhere's franchise, title, escrow, and relocation units, while the combined 1.2 million transactions offer opportunities for additional services [4]. - Compass expects more than $225 million in cost synergies, improved cash flow, and a stronger balance sheet while continuing to invest in technology [4]. Group 3: Leadership Statements - Compass CEO Robert Reffkin emphasized the merger as a monumental step towards empowering real estate professionals [5]. - Anywhere CEO Ryan Schneider expressed excitement about uniting renowned brands and businesses to enhance the real estate experience [5].