Real estate giants Compass and Anywhere Real Estate are merging in an all-stock deal worth $10 billion. Anywhere’s shares surged 48%, while Compass’ dropped 16%. The merger will expand Compass’ agent network from 40,000 to 340,000 globally and add over $1 billion in revenue. The combined brokerage will hold 18% market share.

The merger will allow Compass to utilize its platform for pocket listings, potentially widening its reach. CEO Robert Reffkin stated the merger will create a place for real estate professionals to thrive. Anywhere shareholders will receive 1.4 shares in Compass, valuing Anywhere’s shares at $13.01 each, representing an 84% premium over Friday’s closing stock price.

Read more at Yahoo Finance: Compass to buy rival brokerage operator Anywhere Real Estate for about $1.5 billion