Rocket Companies ( (RKT) ) has provided an update.
On March 9, 2025, Rocket Companies announced an agreement to acquire Redfin in an all-stock transaction valued at $1.75 billion, with each Redfin share being exchanged for 0.7926 shares of Rocket’s Class A common stock. The merger aims to integrate Redfin’s real estate platform with Rocket’s mortgage services, enhancing the home-buying experience and driving growth in Rocket’s purchase mortgage market. The transaction is expected to close in the second or third quarter of 2025, pending shareholder approval and regulatory conditions. The merger is projected to generate significant synergies and be accretive to Rocket’s earnings by the end of 2026.
More about Rocket Companies
Rocket Companies is a Detroit-based fintech platform that operates in the mortgage, real estate, and personal finance sectors. It provides home financing across all 50 states and over 3,000 counties and parishes. Redfin, founded in 2004, is a leading digital real estate brokerage with a top-three home search platform and a network of more than 2,200 agents.
YTD Price Performance: 45.35%
Average Trading Volume: 3,718,867
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $31.48B
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