Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 103

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 103
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result of possible increases or decreases in the trading price of Anywhere common stock or Compass Class A common stock following the announcement of the merger, which the Anywhere Board believed was consistent with market practice for transactions of this type and with the strategic purpose of the merger and the ability of Anywhere stockholders to participate in the upside of the combined company.

• The fact that the merger is intended to qualify as a “reorganization” within the meaning of Section 368(a) of the Code, and the tax consequences thereof, as more fully described in the section of this joint proxy statement/prospectus entitled “The Merger—Material U.S. Federal Income Tax Consequences of the Merger.”

• Opinion of Goldman Sachs : The Anywhere Board considered the oral opinion of Goldman Sachs, subsequently confirmed in writing by delivery of a written opinion, to the effect that, as of September 22, 2025, based upon and subject to the various factors and assumptions set forth in Goldman Sachs’ written opinion, the exchange ratio of 1.436 shares of Compass Class A common stock per share of Anywhere common stock pursuant to the merger agreement was fair from a financial point of view to the holders (other than Compass and its affiliates) of Anywhere common stock. For additional information, see the section entitled “The Merger—Opinion of Goldman Sachs, Anywhere’s Financial Advisor,” beginning on page 69 and Annex C to this joint proxy statement/prospectus.

• Strategic considerations and synergies : The Anywhere Board’s belief that the combined company, and accordingly the holders of Anywhere common stock who will receive Compass Class A common stock as part of the merger consideration, will benefit from the merger in a number of ways, including in the near and long term from the anticipated synergies, operational efficiencies and future growth opportunities, including due to the following considerations:

• Creation of a premier residential real estate platform : The Anywhere Board’s belief that the merger will bring together approximately 340,000 real estate professionals globally onto a shared network operating in every major U.S. city and serving approximately 120 countries and territories, with an international referral network that would expand Compass’ client solutions and technology to more home sellers, home buyers and real estate professionals, thereby creating opportunities for future growth for the combined company.

• Complementary businesses : The complementary nature of the brands, services, customers and geographies of Anywhere and Compass, and the expected impact on the combined company’s business, operations, financial condition, earnings and prospects. In reviewing