Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 104

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 104
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 these factors, including the information obtained through due diligence, the Anywhere Board considered its assessment that Anywhere’s established franchise, title, escrow and relocation operations would diversify Compass’ existing revenue streams, and that the merger would result in a combined company with more efficient operations and broader geographic presence than Anywhere on a standalone basis, which would be able to serve an expanded customer base and be positioned for continued growth and investment, and provide the opportunity to mitigate risks and increase the likelihood of higher potential returns through improved offerings.

• Scale : The Anywhere Board’s expectation that the combined company will have enhanced scale, resiliency, balance sheet strength, free cash flow to fund future growth, and improved ability to access the capital markets on more favorable terms, which would allow the combined company to be more competitive in capturing strategic opportunities and to fund additional research and development and innovation capabilities, and that the combined company would therefore be more likely to create greater stockholder value under a wider range of scenarios compared to Anywhere on a standalone basis.

• Synergies : The Anywhere Board’s expectation that the merger would result in significant cost synergies to the combined company, which the Anywhere Board believed could result in

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additional run-rate adjusted EBITDA in the mid hundreds of millions of dollars for the combined company within three years following the closing of the merger, as more fully described below under the section of this joint proxy statement/prospectus entitled “Certain Unaudited Prospective Financial Information”. The Anywhere Board considered that the potential synergy opportunities appeared to be substantial, and well-above-average relative to relevant precedent transactions in Anywhere’s industry of which the Anywhere Board was aware.

• History of negotiations : The fact that the Anywhere Board negotiated vigorously with Compass with respect to the merger consideration and the other terms of the merger agreement, including obtaining multiple price increases from Compass’ original proposal, and the Anywhere Board’s belief, based on the history of negotiations and the interactions between the two companies’ senior executives and between their respective advisors, that the merger consideration represented the maximum value that Compass was willing to pay.

• Current conditions : The understanding of the Anywhere Board of the current and prospective environment in which Anywhere and Compass operate, including economic conditions, conditions in the housing market, ongoing volatility in the credit, financial and stock markets, including related to tariffs, geopolitical risks, high interest and mortgage rates and the current and potential impact of these conditions in the near and long term on home sale