Compass jumps 18% on report of Vista Equity takeover interest (update)
Oct. 06, 2022 9:58 AM ETCompass, Inc. (COMP)By: Joshua Fineman, SA News Editor54 Comments
Update 10am: Updates shares.
- Compass Inc. (NYSE:COMP) soared 18% on a report that Vista Equity is looking to take the real estate brokerage private.
- An additional private equity firm may also be involved in a possible transaction, according to an Insider report.
- A Compass representative told the publication that "no private equity firm has contacted Compass expressing any interest in taking the company private."
- Compass (COMP) shares have dropped 86% since the tech-centric real estate went public in late March of last year. Compass has a market cap of $1.05 billion.
- Compass (COMP) short interest is 5.7%.
- Last month, Compass (COMP) executed another round of lay-offs as part of its previously announced cost reduction efforts that aim to achieve $320M in target run rate saving.