Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 111

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 111
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In arriving at its opinion, Morgan Stanley assumed and relied upon, without independent verification, the accuracy and completeness of the information that was publicly available or supplied or otherwise made available to it by Anywhere and Compass, and formed a substantial basis for its opinion. With respect to the financial projections, including information relating to certain strategic, financial and operational benefits anticipated from the merger, Morgan Stanley assumed, with Compass’ consent, that they had been reasonably prepared on bases reflecting the best currently available estimates and judgments of the respective managements of Anywhere and Compass of the future financial performance of Anywhere and Compass. These projections are discussed more fully under “Certain Unaudited Prospective Financial Information” beginning on page 77 . Morgan Stanley assumed, with Compass’ consent, that the projections prepared by the management of Compass are a reasonable basis upon which to evaluate the business and financial prospects of Compass and Anywhere. Morgan Stanley expressed no view as to such projections or the assumptions on which they were based. Morgan Stanley relied upon, without independent verification, the assessment by the management teams of Anywhere and Compass of: (i) the strategic, financial and other benefits expected to result from the merger; (ii) the timing and risks associated with the integration of Anywhere and Compass; (iii) their ability to retain key employees of Anywhere and Compass, respectively; and (iv) the validity of, and risks associated with, the Anywhere and Compass’ existing and future technologies, intellectual property, products, services and business models. In addition, Morgan Stanley assumed, with Compass’ consent, that the merger will be consummated in accordance with all applicable laws and regulations and in accordance with the terms set forth in the merger agreement without any waiver, amendment or delay of any terms or conditions, including, among other things, that the merger will be treated as a tax-free reorganization, pursuant to the Code, as amended, and that the definitive merger agreement would not differ in any material respect from the draft thereof furnished to Morgan Stanley. Morgan Stanley assumed, with Compass’ consent, that in connection with the receipt of all the necessary governmental, regulatory or other approvals, consents or agreements required in connection with the merger, no delays, limitations, conditions or restrictions will be imposed that would have a material adverse effect on the contemplated benefits expected to be derived in the merger. Morgan Stanley did not express any view on, and its opinion did not address, any other term or aspect of the merger agreement or the transactions contemplated thereby or any term or aspect of any