Compass, the largest U.S. residential real estate broker, is set to buy Anywhere Real Estate in a deal valued at $4.2 billion, adding heft at a time when home sales are softening as buyers remain pressured by still-high interest rates.
The all-stock deal will add over $1 billion in revenue from Anywhere’s franchise, title and escrow, and relocation operations to Compass‘ topline, the companies said on Monday.
Madison, New Jersey-based Anywhere provides real estate services including franchise, brokerage, relocation and title and settlement through more than 30,000 affiliated agents across 119 countries.
Compass will pay $13.01 per share to Anywhere shareholders, representing a premium of 84% to the latter’s last close. Anywhere’s shares soared 55% in premarket trading to $10.97, while those of Compass fell nearly 15%.
Each share of Anywhere common stock will be exchanged for 1.436 class A shares of Compass, resulting in an equity value of about $1.6 billion, according to Reuters calculations.
The combined company is expected to have an enterprise value of about $10 billion, including debt.
Morgan Stanley is serving as the financial adviser to Compass, and Goldman Sachs is advising Anywhere on the deal.
The transaction is expected to close in the second half of 2026.