Rocket's (RKT) planned $1.75 billion acquisition of Redfin (RDFN) is facing scrutiny from a group of US senators, who asked antitrust regulators why they had not challenged the transaction, Reuters reported Wednesday, citing a letter from the senators.
According to Reuters, the senators claimed in their letter to the US Department of Justice and Federal Trade Commission that the acquisition could raise costs for homebuyers.
The senators also flagged concerns about consolidation in the homebuying industry with Rocket's plan to purchase Mr. Cooper Group (COOP), Reuters said.
Reuters reported that the senators include Elizabeth Warren, Cory Booker, and Bernie Sanders, among others.
Rocket and Redfin did not immediately respond to MT Newswires' requests for comments.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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