Company: HOUS
Filing Date: 2025-09-22
Form Type: 425
Source: 0001193125-25-210060
Chunk: 106

Company: Anywhere Real Estate Inc.
Filing Date: 2025-09-22
Form: 425
Chunk 106
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 lead to, a Parent Superior Proposal and
(4) prior to taking any such actions, the Parent Board determines in good faith after consultation with its outside legal counsel that failure to take such action would be inconsistent with the fiduciary duties owed by the Parent Board to the
stockholders of Parent under applicable Law;

(iii) prior to, but not after, the receipt of the Parent Stockholder
Approval, in response to a bona fide written Parent Competing Proposal from a third party that was not solicited at any time following the execution of this Agreement and did not arise from a material breach of the obligations set forth in
this , if the Parent Board so chooses, the Parent Board may effect a Parent Change of Recommendation (other than of the type described in of the definition thereof); ,
, that such a Parent Change of Recommendation may not be made unless and until:

(A) the Parent Board
determines in good faith after consultation with its financial advisors and outside legal counsel that such Parent Competing Proposal is a Parent Superior Proposal;

(B) the Parent Board determines in good faith, after consultation with its outside legal counsel, that failure to effect a
Parent Change of Recommendation in response to such Parent Superior Proposal would be inconsistent with the fiduciary duties owed by the Parent Board to the stockholders of Parent under applicable Law;

(C) Parent and its Subsidiaries have complied in all respects with their obligations pursuant to this
with respect to such Parent Competing Proposal;

(D) Parent provides the Company
written notice of such proposed action and the basis thereof five (5) Business Days in advance, which notice shall set forth in writing that the Parent Board intends to consider whether to take such action and include a copy of the available
proposed Parent Competing Proposal and any applicable transaction and financing documents;

(E) after giving such notice
and prior to effecting such Parent Change of Recommendation, Parent negotiates (and causes its officers, employees, financial advisor and outside legal counsel to negotiate) in good faith with the Company (to the extent the Company wishes to
negotiate) to make such adjustments or revisions to the terms of this Agreement as would permit the Parent Board not to effect a Parent Change of Recommendation; and

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(F) at the end of the five (5) Business Day period, prior to taking
action to effect a Parent Change of Recommendation, the Parent Board takes into account any adjustments or revisions to the terms of this Agreement proposed by the Company in writing and any other information offered