Zillow buying Trulia in $3.5 billion stock deal - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Zillow buying Trulia in $3.5 billion stock deal

Posted: Updated:
 NEW YORK (AP) - Real estate website operator Zillow is buying competitor Trulia in a $3.5 billion all-stock deal.
    
Trulia's stock rose more than 16 percent in Monday premarket trading, while Zillow's stock fell more than 3 percent.
    
Trulia shareholders will receive 0.444 shares of Zillow common stock for each share they hold, and will own approximately 33 percent of the combined company. Zillow shareholders will receive one comparable share of the combined company and own the other two-thirds of the business.
    
Trulia Inc. CEO Pete Flint will stay in his post and remain on the board. Another Trulia director will join the combined company's board after the transaction is complete.
    
Both companies' boards approved the deal. Both companies' shareholders still must approve it. The transaction is targeted to close next year.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • Hundreds gather to remember student killed in Freeman shooting

    Hundreds gather to remember student killed in Freeman shooting

    Saturday, September 23 2017 9:44 PM EDT2017-09-24 01:44:28 GMT

    SPOKANE, Wash. - On Saturday afternoon hundreds of people made their way to University High School to pay their respects and remember Sam Strahan, the 15-year-old student who was killed in a shooting at Freeman High School on September 13. The Spokane community came together to say their final goodbyes to Sam. 

    More >>

    SPOKANE, Wash. - On Saturday afternoon hundreds of people made their way to University High School to pay their respects and remember Sam Strahan, the 15-year-old student who was killed in a shooting at Freeman High School on September 13. The Spokane community came together to say their final goodbyes to Sam. 

    More >>
  • Colorado hikers rescue dog stuck on mountain for 6 weeks

    Colorado hikers rescue dog stuck on mountain for 6 weeks

    Saturday, September 23 2017 7:56 PM EDT2017-09-23 23:56:12 GMT

    PARK COUNTY, Colo. - Mountain climbers came together on social media to help rescue a dog stuck atop a 14,177-foot mountain in Colorado. A group dedicated to climbing so-called 14ers (mountains with elevations of at least 14,000 feet) worked together to find a dog stranded on Mt. Bross.

    More >>

    PARK COUNTY, Colo. - Mountain climbers came together on social media to help rescue a dog stuck atop a 14,177-foot mountain in Colorado. A group dedicated to climbing so-called 14ers (mountains with elevations of at least 14,000 feet) worked together to find a dog stranded on Mt. Bross.

    More >>
  • Damage in Puerto Rico strains relief efforts by agencies

    Damage in Puerto Rico strains relief efforts by agencies

    Saturday, September 23 2017 7:06 PM EDT2017-09-23 23:06:01 GMT

    WASHINGTON (AP) - Federal agencies are grappling with the vast scale of the disaster in Puerto Rico left by Hurricane Maria, the third major storm to strike the U.S. in less than a month. Three days after the massive hurricane crossed the U.S. territory, towns in Puerto Rico remain without fresh water, fuel, power or phone service.

    More >>

    WASHINGTON (AP) - Federal agencies are grappling with the vast scale of the disaster in Puerto Rico left by Hurricane Maria, the third major storm to strike the U.S. in less than a month. Three days after the massive hurricane crossed the U.S. territory, towns in Puerto Rico remain without fresh water, fuel, power or phone service.

    More >>