Redfin Stock Soars After Rocket Announces $1.75 Billion Acquisition

Blockhead
10 Mar

Rocket Companies on Monday announced plans to acquire Redfin (RDFN) to expand its mortgage strategy. RKT stock tumbled on the news while Redfin shares soared. Real estate information giant Zillow (Z) retreated. Rocket Companies (RKT), the firm behind Rocket Mortgage, announced a deal to purchase digital real estate brokerage Redfin in an all-stock transaction for $1.75 billion, or $12.50 per…

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