Rocket Companies Acquires Mr. Cooper in $9.4 Billion Deal | JQJO

Rocket Companies, a mortgage giant, is acquiring its competitor, Mr. Cooper, in a $9.4 billion all-stock deal. This follows Rocket's recent acquisition of Redfin. The merger aims to create the industry's largest mortgage company, controlling one in six US mortgages and serving nearly 7 million customers. This move will increase loan volume, reduce acquisition costs, and offer a comprehensive homeownership experience. Mr. Cooper's CEO will lead Rocket Mortgage, reporting to Rocket's CEO. The combined company's board will reflect a 75/25 ownership split favoring Rocket.