By Dean Seal
Redfin and Rocket Cos. shares fell after Rocket signed a $9.4 billion all-stock deal to acquire Mr. Cooper Group weeks after striking a stock-based deal to buy Redfin.
Shares of Rocket were down 9.4% at $11.91 on Monday, while shares of Redfin declined 11% to $9.05.
The two companies said on March 10 that Rocket would buy Redfin in a $1.75 billion all-stock deal that values Redfin shares at $12.50 apiece. Redfin's stock jumped by 68% to close at $9.77 that day, while shares of Rocket pulled back 15% to $13.35.
On Monday, Rocket said it had notched another deal to buy Mr. Cooper in a transaction that values the mortgage servicer's shares at $143.33. Mr. Cooper shares have climbed 14% to $119.41.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 31, 2025 13:23 ET (17:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.