Compass, Anywhere Real Estate to Merge in All-Stock Deal (1)

(Adds share moves, WSJ report.)

Compass shares fall 15% premarket and Anywhere Real Estate gains 44% after the companies agreed to merge in an all-stock deal, with Anywhere holders set to receive 1.436 Class A Compass shares per Anywhere share.

• Consideration represents a value of $13.01 per Anywhere share based on Compass’ 30 trading day volume weighted average price as of Sept. 19, the companies said in a statement
  • Compass sees achieving more than $225 million in non-GAAP OPEX synergies, net of dissynergies and friction costs
  • Compass obtained $750 million financing commitment from Morgan Stanley Senior Funding
  • Post-close, Compass expects ...