Anywhere Real Estate Stock Rocketed 51% Pre-Market Today – Here’s What Happened
Synopsis
Upon completion of the transaction, present Compass shareholders will own about 78% of the combined company on a fully diluted basis, while Anywhere shareholders will own nearly 22%.
Anywhere Real Estate Inc. (HOUS) and Compass Inc. (COMP) announced on Monday that the companies intend to combine in an all-stock transaction with an expected enterprise value of approximately $10 billion, including the assumption of debt.
Upon completion of the transaction, present Compass shareholders will own about 78% of the combined company on a fully diluted basis, while Anywhere shareholders will own nearly 22%.
Shares of Anywhere Real Estate jumped 51% before the bell while Compass stock declined over 12% in premarket trading.
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