Rocket Uses Stock to Scoop More of Mortgage Market -- Market Talk

Dow Jones03-31

0950 ET - Rocket Cos. is heating up the tepid M&A market with another big all-stock acquisition, this time buying servicer Mr. Cooper Group with a deal that carries an equity value of $9.4 billion. The owner of Rocket Mortgage scooped up real-estate broker Redfin with a $1.75 billion all-stock transaction earlier this month. The deals combine Rocket, the largest U.S. mortgage originator, with the most visited real-estate brokerage website in Redfin and the largest U.S. mortgage servicer in Mr. Cooper, Rocket says in an investor presentation. Rocket's CEO told The Wall Street Journal earlier this month that the company is building a one-stop shopping platform for homebuyers. Mr. Cooper Group shares rocket 13% in early trading. (dean.seal@wsj.com)

(END) Dow Jones Newswires

March 31, 2025 09:50 ET (13:50 GMT)

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