Deals
Rocket to Buy Real Estate Broker Redfin for $1.75 Billion
This article is for subscribers only.
Rocket Cos. is pushing deeper into the property market with a deal to buy Redfin Corp. that values the real estate listing site at $1.75 billion.
The Detroit-based financial technology group will pay $12.50 for every Redfin share in an all-stock transaction, according to a statement Monday that confirmed an earlier Bloomberg News report. The price represents a premium of 63% over the volume weighted average price of Redfin’s common stock for the 30 days through Friday.