Mr. Cooper stockholders approve merger with Rocket Companies

DALLAS - Mr. Cooper Group Inc. (NASDAQ:COOP) announced Wednesday that its stockholders voted to adopt the company’s merger agreement with Rocket Companies, Inc. (NYSE:RKT) during a special meeting. The company, currently valued at $12.15 billion, has demonstrated remarkable performance with an 89.87% return year-to-date, according to InvestingPro data.

Under the terms of the agreement, Mr. Cooper stockholders will receive 11 shares of Rocket Class A common stock for each share of Mr. Cooper common stock they own. Additionally, Mr. Cooper may declare and pay a $2.00 per share dividend to its stockholders prior to the transaction’s completion.

The merger, which would combine two major players in the mortgage industry, still requires satisfaction or waiver of remaining closing conditions before it can be finalized. The final voting results from the special meeting will be reported in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

Mr. Cooper Group is the largest home loan servicer in the United States, offering various servicing and lending products. The company operates under several brands including Mr. Cooper, Xome, and Rushmore Servicing.

The announcement comes amid ongoing consolidation in the mortgage industry as companies seek scale and efficiency in a challenging market environment.

The information in this article is based on a press release statement from Mr. Cooper Group Inc.

In other recent news, Mr. Cooper Group reported its second-quarter 2025 earnings, revealing a mixed financial performance. The company missed its earnings per share forecast, reporting $3.04 compared to the expected $3.24. However, it exceeded revenue expectations, bringing in $681 million against the forecasted $677.75 million. This revenue beat contributed to a rise in the company’s stock. Additionally, Mr. Cooper Group provided supplemental disclosures regarding its pending merger with Rocket Companies. This action followed shareholder lawsuits and demand letters concerning alleged misstatements in the merger’s proxy statement. In related developments, Mr. Cooper Group’s stock surged 15% alongside Rocket Companies, which saw a 16% increase, following soft jobs data that fueled expectations of interest rate cuts. The potential rate cuts were hinted at by Federal Reserve Chair Jerome Powell, further impacting housing-related stocks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.