Compass to buy rival brokerage operator Anywhere Real Estate for about $1.5 billion
By ALEX VEIGA, Associated Press
Two of the nation’s biggest real estate services companies are combining in a deal that will bring Century 21, Compass and several other major brokerage brands under the same umbrella.
New York-based Compass has agreed to acquire rival Anywhere Real Estate in an all-stock transaction that will create a combined company with a total value of roughly $10 billion, including debt, the companies said Monday.
Shares in Anywhere Real Estate soared more than 48% in afternoon trading Monday. Compass shares slid about 16%.
Compass runs a platform for use by real estate agents in customer relationship management, marketing and other tasks. It also operates its namesake real estate brokerage and Christie’s International Real Estate.
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