(REA -1.86%) Moved to acquire Mortgage Choice (MOC) today as they look to expand their broking business. They paid up for the opportunity, with the $1.95/share offer running a 66% premium over the last close. The deal was unanimously recommended by the MOC board, pending regulatory approval. Smart mov for REA but plenty to play out still. MOC shares closed at $1.91, just shy of the bid.
MM is bullish REA.
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