Compass shares drop 11.8% amid New York antitrust probe after $1.6B Anywhere Real Estate deal

Shares of Compass fell 11.8% following news that New York's Attorney General is investigating the company for potential antitrust issues after its $1.6 billion acquisition of Anywhere Real Estate. This deal created the largest U.S. residential brokerage with over 340,000 agents. The rapid completion of the merger raised regulatory concerns, with prior calls for scrutiny from federal officials and senators worried about market dominance and commission rates. The state-level probe adds new challenges for Compass as it navigates regulatory scrutiny.