U.S. real estate website operator Zillow Inc said it would purchase smaller rival Trulia Inc for $3.5 billion in stock. Trulia shareholders will receive 0.444 common shares of Zillow for each share they hold and will own about 33 percent of the combined company, the companies said in a statement.
Trulia, Inc. is a real estate search engine company. Shares of TRLA remained unchanged at $56.35. In the past year, the shares have traded as low as $26.35 and as high as $57.47. On average, 1774050 shares of TRLA exchange hands on a given day and today's volume is recorded at 1836.
Zillow, Inc. (Zillow), provides real estate and home-related information. Shares of Z remained unchanged at $158.86. In the past year, the shares have traded as low as $70.28 and as high as $159.26. On average, 1908700 shares of Z exchange hands on a given day and today's volume is recorded at 0.
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