00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Real estate firm, RearMax.
00:05Holdings agreed to be acquired by the Real Brokerage in a deal valued at about $550 million,
00:11according to the Wall Street Journal.
00:13RealMax shareholders can choose 5.15 shares of the combined company or $13.80 in cash per share.
00:21Real shareholders will own about 59% of the new entity.
00:25ReMax shares closed at $7.99 Friday.
00:30Including debt, the transaction is valued at about $880 million.
00:34Real went public in 2021, has a market value of about $570 million,
00:39and has grown rapidly since its 2014 founding,
00:42while relying on artificial intelligence and technology to operate digitally.
00:46The combined company will operate both brands and have more than 180,000 agents.
00:51The deal follows recent brokerage consolidation as firms seek scale, technology, and listings.
00:57And for all things money, visit Benzinga.com.
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