The news of Anywhere Real Estate floating an acquisition offer for Douglas Elliman has piqued interest from other buyers in the luxury brokerage market. Analysts suggest that the firm's cheap valuation, strong brand, and appealing balance sheet make it an attractive target. The potential deal has prompted speculation about rising offers and the formation of a special committee by Elliman's board. With its shares surging significantly after the offer announcement, many believe the window for a true bargain may be closing as competition heats up.
"There's rumors that the bidding will go higher," said Steve Murray, an industry advisor on many deals.
"I think that the board would be forming a special committee," he said. "I would expect that the franchise, if they run a process, will garner very, very big interest."
"An appealing balance sheet at a relative discount, an organizational culture that has teetered between hard-charging and toxic and a legacy brand that now may represent the last of its kind."
"If you look at the landscape of independent large luxury brokers, who's left?" asked Finley Hair, director of M&A at Wav Group, a real estate advisory firm.
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