Company: HOUS
Filing Date: 2025-12-02
Form Type: DEFM14A
Source: 0001628280-25-054793
Chunk: 64

Company: Anywhere Real Estate Inc.
Filing Date: 2025-12-02
Form: DEFM14A
Chunk 64
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where can predict whether and when these other conditions will be satisfied. There can be no assurance that regulators will not impose terms and conditions that have the effect of delaying or preventing the closing of the merger or creating additional material costs on or materially limiting the revenues of the combined company following the merger, or otherwise adversely affecting the combined company’s business and results of operations after completion of the merger. Any delay in completing the merger may adversely affect the cost synergies and other anticipated benefits that Compass and Anywhere expect to achieve if the merger and the integration of Anywhere is completed within the expected timeframe.

There can be no assurance that the conditions to the completion of the merger set forth in the merger agreement relating to applicable regulatory laws will be satisfied.

Additionally, in some circumstances, upon termination of the merger agreement, Compass could be required to pay a termination fee of $200 million to Anywhere, or a termination fee of $350 million to Anywhere in the event that the merger agreement is terminated due to the failure to receive required regulatory approvals before the end date or if the merger is permanently enjoined.

The merger agreement contains provisions that limit Compass’ and Anywhere’s ability to pursue alternatives to the merger, may discourage a potential competing transaction counterparty of Compass or Anywhere from making a favorable alternative transaction proposal, and provide that, in specified circumstances, each of Compass and Anywhere would be required to pay a termination fee.

The merger agreement contains provisions that make it more difficult for each of Compass and Anywhere to be acquired by, or enter into certain combination transactions with, a third party. Subject to certain exceptions, the merger agreement contains certain “no shop” covenants that restrict each of Compass’ and Anywhere’s ability to, among other things, directly or indirectly solicit, initiate, knowingly assist, knowingly encourage, or knowingly facilitate any inquiries or proposals with respect to any alternative transaction, engage or participate in any negotiations or discussions with any person concerning any acquisition proposal, provide any confidential or nonpublic information or data to, or have or participate in any discussions with, any person relating to any acquisition proposal, subject to certain exceptions, or, unless the merger agreement has been terminated in accordance with its terms, approve or enter into any letter of intent, agreement in principle or other agreement in connection with or relating to any acquisition proposal. In addition, following receipt by either Compass or Anywhere of any alternative transaction proposal that constitutes a “superior proposal,” the other party will have an opportunity to offer to modify the terms of the merger agreement before the Compass