Compass had originally estimated a summer or fall 2026 closing date for construction. However, after a shareholder vote on Wednesday, in which shareholders of both firms approved the merger, the companies announced a more accelerated timeline.
“Our collective vision is to be the best in the world at empowering real estate professionals with everything they need to realize their entrepreneurial potential,” said Robert Reffkin, founder and CEO of Compass, in a statement. “What makes this time different isn’t a transaction that brings two companies together – it’s that the industry’s most respected companies and professionals come together in a single, state-of-the-art technology environment that will help them save time, grow their business, and better serve their customers.”
Reffkin will lead the combined companies under Compass International Holdings share price as its chairman and CEO.
The closing of the transaction comes despite pushback from lawmakers, including Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.), who had previously called the meeting. Department of Justice (DOJ) and Federal Trade Commission (FTC) to consider blocking the proposed acquisition. In a letter sent to federal regulators in December, they argued that the purchase could hurt homebuyers by contributing to higher brokerage costs and reducing access to real estate listings.
Key to this concern is increasing the share of the market that joint ventures have in certain areas of the municipality. Analysis of RealTrends is verified data published by The Capitol Forum in mid-December they found that the proposed acquisition would create a concentration of market share “beyond deemed illegal limits,” in at least a dozen states. This includes over 80% market share in both Newport Beach, California and Manhattan. Analysis includes Anywhere and franchise business.
Despite this warning from senators, the agency removed its Hart-Scott-Rodino Antitrust Improvements (HSR) Act of 1976 last Friday without action from the DOJ or the FTC. Under the HSR Act, after notifying the DOJ and FTC of a proposed acquisition, the parties must observe a mandatory waiting period, during which government agencies review the proposed transaction for potential antitrust concerns.
In an emailed statement Wednesday, Senator Warren told HousingWire that he warned that consolidation could raise costs for consumers by reducing competition.
“Now, instead of addressing the housing crisis that is overwhelming American families, the Trump administration has sealed a deal that will only make things worse,” he wrote. “This is the latest example of how Donald Trump has failed to lower costs for the American people.”
While the transaction is closed, this does not mean it is not subject to antitrust scrutiny, as the DOJ or FTC may still initiate an investigation.
In addition to the pushback from law enforcement, the deal also faced three lawsuits from shareholders anywhere. In mid-December shareholders of Anywhere filed three separate lawsuits against the firm claiming that Anywhere made insufficient financial disclosures to its shareholders about the proposed merger. Neither did we return HousingWire’s request for comment on the allegations in the lawsuits.
