None
EN
Anywhere Real Estate soars 58% on Compass merger deal to create $10B platform
['Vatsala Gaur']
Invezz
Anywhere Real Estate shares surged more than 58% on Monday after Compass announced it would acquire the Madison, New Jersey-based company in an all-stock transaction.
The deal, which values Anywhere at about $1.46 billion, will create a $10 billion residential real estate platform, according to the companies.
The combined platform will bring together roughly 340,000 real estate professionals in 120 countries and territories.
Earlier this year, Anywhere was itself in acquisition mode, making a bid for Douglas Elliman, a luxury real estate brokerage, although no agreement was reached.
Compass has leaned heavily on acquisitions for growth, last year striking a $444 million deal to buy Christie’s International Real Estate and @properties.
['soars'
'compass'
'10b'
'company'
'platform'
'create'
'combined'
'stock'
'real'
'million'
'billion'
'listings'
'industry'
'merger'
'58'
'deal'
'estate']