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Real Brokerage gets final British Columbia approval for REMAX deal
The companies target an Aug. 24 close after British Columbia court approval, with the DOJ already granting early HSR clearance in mid-July.
Real Brokerage received final court approval in British Columbia for its acquisition of REMAX Holdings, moving the cross-border brokerage merger closer to completion, HousingWire reports.
The companies said they expect to close the transaction on Monday, Aug. 24, subject to the satisfaction or waiver of remaining customary closing conditions, despite having already obtained DOJ clearance for the deal.
HousingWire notes that in mid-July the U.S. Department of Justice granted early termination of the Hart-Scott-Rodino waiting period for the merger, which requires advance notice to the DOJ and the FTC for large transactions.
Shareholders of both companies approved the combination at separate special meetings on Aug. 14, and HousingWire adds that REMAX CEO Erik Carlson plans to step down after the close and join the Real REMAX board, while Jenna Rozenblat is set to become president of the newly formed Real REMAX Group.