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.
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.
ALSO ON NJBIZ:
Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.View Comment Policy