Share prices in Zillow and Trulia have posted double-digit gains today, suggesting investors have gotten wind that the Federal Trade Commission intends to sign off on the companies’ proposed merger.
Trading in Zillow and Trulia has been heavy, with twice as many shares changing hands before noon Eastern time than is typical for an entire day.
Google Finance chart showing sharp rise in Zillow and Trulia’s share prices today.
Bradley Safalow, founder and CEO of stock analysis firm PAA Research, confirmed that a rumor is indeed swirling around Wall Street that the FTC has approved the deal.
The proposed all-stock merger, announced in July and approved by shareholders Dec. 18, is still under review by the FTC, which made second requests for information from the companies in early September. Zillow has agreed to hold off on closing the deal until Feb. 15, unless the FTC wraps up its review before then.
Zillow also announced today that the Zillow Pro for Brokers program has doubled in size since July, with more than 5,000 partners now sending listings directly to the search portal.
New “Pro for Brokers” partners include:
- Berkshire Hathaway HomeServices Florida Realty
- Coffee County Realty and Auction (Manchester, Tennessee)
- Coldwell Banker Finger Lakes (Geneva, New York)
- ERA King Real Estate (Birmingham, Alabama)
- Keller Williams Ballantyne (Charlotte, North Carolina)
- Keller Williams Realty (Dallas-Fort Worth, Texas)
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