M&A · Financials · Real Estate Agents & Managers (For Others)
Rocket Companies, Inc. to acquire Redfin Corp
Announced Mar 10, 2025 · Closed Jul 1, 2025
Deal value$1.75BEV $2.20B
Premium—To unaffected price
EV / Adj. EBITDA—2.1x EV / Revenue
ConsiderationAll stock
Transaction
- Acquirer
- Rocket Companies, Inc. (RKT)
- Target
- Redfin Corp (RDFN)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $2.20B
- Status
- Closed Jul 1, 2025
Deal protections
- Break fee (target pays)
- $65.5M · 3.7%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · JPMorgan
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Goldman Sachs
Sector context · Financials
- Comparable deals
- 56 in the prior 24 months
- Premium
- Sector median 34.0%
- EV / Adj. EBITDA
- Sector median 12.5x
- Break fee
- 3.7% vs. 3.4% sector median
Timeline
- AnnouncedMar 10, 2025
- Proxy filedMay 5, 2025
- Definitive proxyMay 5, 2025
- Shareholder voteJun 4, 2025
- ClosedJul 1, 2025
Valuation · fairness opinions
Other analysis$0.50$0.61
Other analysis$6.37$17.30
Future share price$6.00$12.85
Premiums paid$6.05$7.68
Implied value per Redfin Corp share by analysis, from Goldman Sachs · DCF discount rate 13%–18%.