Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 99

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 99
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 a franchise presence in approximately 120 countries and territories;

• the estimation that the transaction will generate annual run-rate net cost synergies (net of dissynergies and friction costs) of more than $225 million, achievable within three years of the closing of the merger, enhancing Compass’ free cash flow profile and investment in the combined entity as well as allowing for immediate debt deleveraging after the merger;

• the opportunity to accelerate Compass’ artificial intelligence (“AI”) capabilities across a larger platform of real estate professionals by empowering them with predictive AI insights and automated tools that will drive efficiency across business functions and create long-term operating improvements for the combined company;

• the opportunity to diversify Compass’ business with attractive and recurring revenue streams from established, complementary franchise, title and escrow, and relocation operations;

• the fact that the merger enables Compass to continue investments in technology to help real estate professionals grow their business and enhance the services they offer homebuyers and homesellers;

• the expectation that the merger will be accretive for holders of Compass common stock, generating strong combined free cash flow and accelerating Compass’ long-term growth strategy.

• Exchange Ratio and Merger Consideration : Compass considered the favorability of the exchange ratio relative to its current assessment of the valuation of each company and of the synergies and other benefits of the merger. In addition, Compass considered the fact that, upon completion of the merger, based on the fully diluted number of shares of Compass common stock and Anywhere common stock as of September 19, 2025, the last trading day before the public announcement of the merger, it is expected that Compass stockholders will hold approximately 78% of the fully diluted shares of the combined company immediately after the effective date of the merger.

• Other Factors : In addition to considering the factors described above, Compass considered the following additional factors that weighed in favor of the merger:

• historical information concerning the companies’ respective businesses, financial condition, results of operations, earnings, trading prices, managements, competitive positions and prospects on standalone and forecasted combined bases; and

• the current and prospective business environment in which each of the companies operates, including economic conditions and the highly competitive environment that each of the companies operate within, and the likely effect of these factors on Compass, Anywhere and the combined company.

• Terms of the Merger Agreement : Compass considered that the terms of the merger agreement, taken as a whole, including the parties’ representations, warranties and covenants, and the circumstances under which the merger agreement may