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2w ago

Compass to Acquire Anywhere Real Estate in $10 Billion All-Stock Deal

Regulatory review now looms as the companies target a second‑half 2026 close, with sizable cost savings plus new revenue projected.

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California recorded 257,630 home sales in 2023, a decline of 24.8% from 2022, marking the largest annual sales decline in the state since 2007. Photo courtesy Getty Images.
FILE - Coldwell Banker realtor Suzanne Hunter puts a sold sign on a home that she sold in Santa Clara, Calif., on Oct. 7, 2007. (AP Photo/Tony Avelar, File)
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Overview

  • Anywhere shareholders will receive 1.436 Compass Class A shares valued at $13.01 per share, leaving Compass investors with about 78% of the combined company and Anywhere investors roughly 22%.
  • Compass secured a $750 million financing commitment from Morgan Stanley Senior Funding, and both boards approved the merger, which awaits shareholder votes and regulatory clearance.
  • The combined network totals about 340,000 affiliated agents across roughly 120 countries and about 1.2 million annual transactions, with experts estimating 13%–15% of U.S. transaction sides and a higher share of dollar volume.
  • Executives forecast about $225 million in cost synergies and more than $1 billion in added revenue from Anywhere’s franchise, title, escrow and relocation units, with the combined firm initially carrying roughly $2.6 billion in debt and plans to deleverage.
  • Industry observers expect antitrust scrutiny and possible divestitures, and note the deal could strengthen Compass’s private/off‑MLS listing strategy as its lawsuit with Zillow over listing standards continues, while brands are expected to operate independently.