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US: Rival real estate firms ink $3.5B merger

 |  July 28, 2014

Two rival real estate listing websites are reportedly set to join forces after striking a multibillion-dollar merger deal.

Zillow will acquire Trulia for $3.5 billion in stock, the firms said Monday. Reports late last week revealed that the two were planning such a deal and that Zillow was seeking a $2 billion transaction.

The companies said both boards of directors have approved of the deal and that they expect to finalize the transaction in 2015. In their statement, the firms listed benefits to the merger that include faster innovation and greater access to real estate listing data.

The deal remains subject to regulatory approval.

Full content: Business Insider

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