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.

From other sites
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 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
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs