M&A · Financials · Real Estate Agents & Managers (For Others)
Real REMAX Group Inc. to acquire RE/MAX Holdings, Inc.
Announced Apr 27, 2026 · Closed Aug 24, 2026
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock
Transaction
- Acquirer
- Real REMAX Group Inc. (REAX)
- Target
- RE/MAX Holdings, Inc. (RMAX)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Aug 24, 2026
Deal protections
- Break fee (target pays)
- $31.0M
- Reverse fee (buyer pays)
- $36.0M
- Go-shop
- No-shop
- Financing
- Committed · Morgan Stanley
Advisors
- To the acquirer
- Morgan Stanley, JPMorgan
- To the target
- Not disclosed
Sector context · Financials
- Comparable deals
- 74 in the prior 24 months
- Premium
- Sector median 37.0%
- EV / Adj. EBITDA
- Sector median 13.6x
- Break fee
- Sector median 3.7%
Timeline
- AnnouncedApr 27, 2026
- Proxy filedJul 9, 2026
- Definitive proxyJul 9, 2026
- Shareholder voteAug 14, 2026
- ClosedAug 24, 2026
Valuation · fairness opinions
Trading comparablesMorgan Stanley$1.51$2.01
Discounted cash flowMorgan Stanley$6.65$8.53
Trading comparablesMorgan Stanley$20.48$42.40
Trading comparablesMorgan Stanley$15.48$33.65
Trading comparablesJPMorgan$6.00$9.50
Trading comparablesJPMorgan$2.25$3.00
Discounted cash flowJPMorgan$10.50$14.00
Discounted cash flowJPMorgan$2.50$3.00
Implied value per RE/MAX Holdings, Inc. share by analysis, from Morgan Stanley and JPMorgan · DCF discount rate 10.7%–12.7%.