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0 0.00597014925373135 0.00671641791044775 -0.00970149253731336 -0.00298507462686561 -0.0088134328358209 -0.00447761194029854 -0.00373134328358201
Stock impact report

Mr. Cooper to Be Acquired by Rocket Companies in a $9.4B Deal [Yahoo! Finance]

Rocket Companies, Inc. Class A (RKT) 
Company Research Source: Yahoo! Finance
This will create a mortgage behemoth in the United States, with the combined firm servicing $2.1 trillion of loans and 9.5 million clients. Under the terms of the agreement, COOP shareholders will get 11 RKT shares for each Mr. Cooper share. The transaction is expected to drive higher loan volume and long-term client relationships, thus providing greater recurring revenue and lowering client acquisition costs. Following the announcement, shares of COOP soared 14.5%, while RKT slid 7.4% during yesterday's trading. Jay Bray, COOP Chairman and CEO, said, “By combining Mr. Cooper and Rocket, we will form the strongest mortgage company in the industry, offering an end-to-end homeownership experience backed by leading technology and grounded in customer care.” Further, in connection with the closure of the transaction, COOP will announce and pay a dividend of $2.00 per share. Varun Krishna, RKT CEO, said, “Servicing is a critical pillar of homeownership – alongside home search and m Show less Read more
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