Redfin Stock Soars as Rocket Companies Acquires Firm for $1.75B | Global News Avenue

redfin(RDFNMocket CompaniesRKT) announced that it will purchase digital real estate brokers in an all-stock transaction worth $1.75 billion.

Stocks of the Detroit-based Rockets fell 11%.

Rocket said Redfin’s stock was trading at $12.50 per share, “connecting Redfin’s nearly 50 million visitors to Rocket’s collateral offering.”

By the end of 2026, what you see is a value-added deal for the Rockets adjusted EP

Rocket added: “The combined company is expected to achieve more than $200 million in operating rate synergy in 2027”, and the deal is expected to receive its adjusted one. Earnings per share (EPS) By the end of 2026. After the deal is over, current Rockets shareholders will control 95% of the merged company, while Redfin shareholders will own the remaining shareholders.

“We will work together to improve the experience by connecting different steps in the traditional search and financing process with the removal of friction, reducing costs, and increasing the value for home buyers in the United States,” said Varun Krishna, CEO of Rockets.

Entering Monday, the Rockets have added nearly a quarter of their value over the past 12 months, while Redfin shares have lost 18% of its value during that period.