Rocket Companies, a fintech platform located in Detroit that operates mortgage, real estate, and personal finance businesses, has entered a definitive agreement to acquire Mr. Cooper Group in an all-stock transaction valued at $9.4 billion, based on an exchange ratio of 11 Rocket shares for each Mr. Cooper share. The deal, approved by both companies' Boards, is expected to close in the fourth quarter of 2025, pending regulatory and shareholder approvals. Once completed, Rocket shareholders will hold approximately 75% of the combined company, and Mr. Cooper shareholders will receive a $2.00 per share dividend and own the remaining 25%. The acquisition is structured to be tax-free for Mr. Cooper shareholders. Jay Bray, Chairman and CEO of Mr. Cooper, will become President and CEO of Rocket Mortgage, reporting to Rocket CEO Varun Krishna.
Krishna said, “With the right data and AI infrastructure we will deliver the right products at the right time. That’s how we build lifelong relationships, by proactively unlocking benefits and meeting needs before they arise. We look forward to welcoming Mr. Cooper’s nearly 7 million clients.” Rocket aims to use this scale to enhance client retention, boost loan originations, and improve automation through increased data access. With strengthened operations, broader customer insights, and stable performance across market conditions, the acquisition supports Rocket's plan to streamline homeownership services and expand its AI-driven platform.
