Douglas Elliman Receives Takeover Bid as it Battles Alexander Brothers Fallout

Douglas Elliman Inc., the real estate brokerage battling fallout from lawsuits involving a pair of former star agents, received a merger offer from a competitor this week that would value the business at about double its current share price, according to people with knowledge of the matter.

Anywhere Real Estate Inc., formerly known as Realogy, has approached Douglas Elliman with a bid that would value it at more than $4 a share, one of the people said, asking not to be identified as the information isn’t public. Douglas Elliman isn’t likely to accept the bid at the current level, the person said.