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Realogy completes purchase of ZipRealty

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Realogy Holdings Corp. announced Thursday that it has completed its tender offer for the shares of ZipRealty Inc. That wraps up Realogy's $166 million deal for the residential brokerage firm.

RELATED: Realogy buys residential brokerage for $166M

Realogy, through its subsidiary Honeycomb Acquisition, Inc., paid $6.75 per share for the common stock of ZipRealty, it said in a news release. As of the expiration of the tender offer, more than 80 percent of ZipRealty shares were sold to Realogy. The Madison-based real estate brokerage then exercised a “top-up” option that allowed it to buy extra shares and close the merger without stockholder approval.

With the completion of the deal Thursday, ZipRealty will become a wholly owned subsidiary of Realogy.

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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