Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 106

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 106
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 and anticipated timing of obtaining HSR Clearance—for more information, see the section of this joint proxy statement/prospectus entitled “The Merger—Regulatory Approvals”; and

• Anywhere’s ability, under certain circumstances pursuant to the merger agreement, to seek specific performance to prevent breaches of the merger agreement and specifically enforce the terms of the merger agreement.

• Merger agreement terms: The terms and conditions of the merger agreement, including:

• The representations, warranties and covenants of the parties, the conditions to the parties’ obligations to complete the transactions and their limited ability to terminate the merger agreement;

• Compass’ obligations under the merger agreement to use reasonable best efforts, including Compass’ affirmative obligation to litigate and agree to certain divestitures if necessary to obtain HSR Clearance, as well as the $350,000,000 termination fee Compass would be required to pay Anywhere in the event that the merger agreement was terminated due to failure to receive required regulatory approvals prior to the end date or if there is an antitrust-related injunction, as further discussed in the section of this joint proxy statement/prospectus entitled “The Merger Agreement—Termination Payments”;

• The terms of the merger agreement that restrict Compass’ ability to solicit and engage in alternative business combination transactions, as further discussed in the section of this joint proxy statement/prospectus entitled “The Merger Agreement—Covenants and Agreements—No Solicitation of Competing Proposals”; and

• The fact that Compass is required to pay Anywhere a $200,000,000 termination fee under specified circumstances related to a change of recommendation by the Compass board, or other qualifying transaction, as further discussed in the section of this joint proxy statement/prospectus entitled “The Merger Agreement—Termination Payments.”

In the course of its deliberations, the Anywhere Board also considered a number of uncertainties, risks and other countervailing factors relating to entering into the merger agreement and the merger and concluded that the anticipated benefits of the merger were likely to substantially outweigh these risks. These potential risks include (not necessarily in order of relative importance):

• Value of merger consideration: The fact that the exchange ratio provides for a fixed number of shares of Compass Class A common stock for each share of Anywhere common stock and, as such, holders of Anywhere common stock cannot be certain, at the time of the Anywhere special meeting or upon consummation of the merger, of the aggregate market value of the merger consideration they will receive, and the possibility that