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Rocket acquires Mr. Cooper in a $9.4 billion deal, boosting its mortgage market share and client base.
Mortgage company Rocket is acquiring Mr. Cooper in a $9.4 billion all-stock deal.
The acquisition will create a company representing one in every six U.S. mortgages and add nearly 7 million clients to Rocket's base.
The deal aims to boost loan volumes and lower client acquisition costs, following Rocket's recent acquisition of Redfin.
Rocket shareholders will own about 75% of the combined company, with Mr. Cooper shareholders owning 25%.
4 weeks ago
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