Trulia jumps following Realogy M&A rumor; Zillow also higher


A rumor that real estate services giant Realogy (RLGY +1.3%) is looking to acquire Trulia (TRLA +8%), perhaps for $52/share, has led Trulia's shares to spike in afternoon trading.

Zillow (Z +3.9%) is also up strongly on the day. Both Trulia and Zillow were already rallying on what has been a good day for Internet momentum plays.

15% of Trulia's float was shorted as of Oct. 31.

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Comments (2)
  • ericmcarter
    , contributor
    Comments (194) | Send Message
     
    I'm not exactly sure, but I think RLGY is Zillow's largest client. Wouldn't a TRLA acquisition by RLGY put a dent in Zillow?
    13 Nov 2013, 04:27 PM Reply Like
  • Billyspeed
    , contributor
    Comments (204) | Send Message
     
    Very questionable acquisition with anti-trust implications. RLGY is intimately tied in with countless local multiple listing services and the NAR's Realtor.com. I really doubt a TRLA acquisition would be allowed by the Justice Dept. This would set up a potentially very anti-competitive arrangement. Zillow and many other Realtor organizations would be very concerned. A TRLA/Zillow merger would make sense. But RLGY would raise many issues.
    13 Nov 2013, 09:44 PM Reply Like
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