Rocket companies to take Redfin Private in an agreement of $ 1.75 billion
Redfin East be in private In an All-Stock transaction which values the real estate rating platform at $ 1.75 billion.
The acquisition company is RocketA finance and property detention company based in Michigan, based in Michigan, which operates various brands such as Rocket Mortgage, Rocket Money and Rocket Loans.
“Rocket and Redfin have a unified vision in a better way to buy and sell houses”, CEO of Rocket Companies Varun Krishna said in a statement. “Together, we will improve the experience by connecting traditionally disparate steps in the research and financing process with head technology that removes friction, reduces costs and increases the value of American buyers.”
Founded in Seattle in 2004, Redfin serves a residential real estate brokerage platform for the American and Canadian markets. The self -proclaimed “Amazon of real estate” became a public in 2017And his actions generally exchanged about $ 20 in the following few years. As with many technological companies, Redfin has skyrocketed during the pandemic, its actions reaching a summit of $ 96 at the beginning of 2021, before hunting at less than $ 10 for most of the last three years.
Rocket Companies, for his part, became a public in 2020And today has a market capitalization of $ 31 billion. The offer proposed by the company of $ 12.50 represents a premium of 63% compared to the weighted average price of Redfin (VWAP) for the month preceding March 7, 2025. The offer includes the exchange of 0.7926 shares of the class of rocket companies A for each action of ordinary redfin, with Rocket shareholders holding 5%.
Although the two boards have already approved the transaction, it still obliges Redfin shareholders to Rubberstamp the agreement, which, according to Redfin Glenn KelmanWho has managed the company since 2005, will continue at the head of Redfin, reporting directly to Krishna.
This is a story of rupture, updating updates.
