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Mr. Cooper to be acquired for $9.4 billion

Rocket Companies, based in Detroit, announced an all-stock deal on Monday to acquire Mr. Cooper, headquartered in Coppell, Texas, for $9.4 billion.
The acquisition comes after a period of slumping U.S. Housing sales that began in 2022, driven by climbing mortgage rates and high prices.
Mr. Cooper shareholders will receive a fixed exchange ratio of 11 Rocket shares for each share of Mr. Cooper common stock, while Rocket shareholders will own approximately 75% of the combined company and Mr. Cooper stockholders will own about 25%.
According to Mr. Cooper Chairman and CEO Jay Bray, who will become president and CEO of Rocket Mortgage, combining the companies will create the strongest mortgage company in the industry, offering an end-to-end homeownership experience.
The combined entity will service approximately one in every six U.S. Home loans, representing a mortgage servicing portfolio of $2.1 trillion in unpaid balances and giving Rocket almost 7 million additional clients, with the deal expected to close in the fourth quarter.

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thedailyupside.com

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Rocket Mortgage Acquires Mr. Cooper to Create an Industry Giant

How’s this for a rocket-like trajectory? As the ink dries on its agreement earlier this month to buy RedFin for $1.75 billion, lender Rocket Mortgage announced on Monday the next item in its M&A shopping spree: a $9.4 billion takeover of mortgage servicing giant Mr. Cooper. Cooper D’etat Rocket’s dual acquisitions give the company a stake in three major sections of the home-buying market. First: browse and shop for a new home on RedFin, the digi…

1 day ago

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The Business Journals

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Mr. Cooper to be acquired for $9.4 billion

Coppell-based Mr. Cooper Group shares soared after the mortgage servicing giant announced it will be acquired by the parent of Rocket Mortgage for $9.4 billion. Read on to learn more about the deal.

2 days ago·United States

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New York Post

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Rocket to buy Mr. Cooper in $9.4B mega US real estate deal

Rocket Cos. said Monday it would buy home loan service provider Mr. Cooper Group for $9.4 billion, boosting its mortgages business in its...

2 days ago·New York, United States

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Arkansas Business

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Mortgage Company Rocket Buying Mr. Cooper in All-Stock Deal Valued at $9.4B

The mortgage company Rocket is buying competitor Mr. Cooper in an all-stock deal valued at $9.4 billion, just weeks after acquiring real estate listing company Redfin. Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business representing one in every six mortgages in the United States and give it almost 7 million additional clients. The deal will boost loan volumes, the company said, while lowering client …

2 days ago

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sherwood.news

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Rocket's $9.4 billion Mr. Cooper buy would give it control of one in every six US mortgages

Rocket already announced plans to buy Redfin earlier this month....

2 days ago

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Chicago Tribune

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Independent Español

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Rocket buys Mr. Cooper in stock deal valued at $9.4 billion

By MICHELLE CHAPMAN The mortgage company Rocket is buying its competitor Mr. Cooper in a stock exchange deal valued at $9.4 billion, just weeks after acquiring real estate listing company Redfin. Rocket Cos. reported on Monday that it would incorporate Mr. Cooper Group Inc. will create a business that will represent one out of every six mortgages in the United States and will give it nearly seven million additional customers. The company stated …

2 days ago·Chicago, United States

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