Rocket Cos.’ Takeover of Mr. Cooper Completed at $14.2 Billion

Home lender Rocket Cos. completed its purchase of mortgage servicer Mr. Cooper Group Inc. for $14.2 billion, a price tag 51% higher than the valuation announced in March.

The all-stock acquisition of Mr. Cooper was announced with a valuation of $9.4 billion earlier this year. The shares of Detroit-based Rocket have surged 49% since March 28, the last trading day before the deal was unveiled — more than the 20% increase for the S&P 500 — resulting in a higher closing price for Mr. Cooper.

Rocket has been on a buying spree, announcing deals for Mr. Cooper and home-search platform ...