Real-estate broker pays dearly for M&A bricks

Compass agreed to buy rival Anywhere for $1.6 bln, uniting the industry's top two as US home sales stagnate. Online portals like Zillow and builders selling directly are eroding agent fees. An 84% premium, equity dilution and dubious return, however, weaken the deal's foundation.

Sep 23, 2025 - 15:00
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Real-estate broker pays dearly for M&A bricks
Compass agreed to buy rival Anywhere for $1.6 bln, uniting the industry's top two as US home sales stagnate. Online portals like Zillow and builders selling directly are eroding agent fees. An 84% premium, equity dilution and dubious return, however, weaken the deal's foundation.

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