Realogy-The Saga Continues

Last August I published an entry on Cendant's spin off of the new company Realogy (pronounced real-a-gee), the world's largest real estate brokerage and real estate franchisor responsible for names like Coldwell Banker, Century 21, ERA, and Sotheby's International.  Realogy at that time became a publicly held company complete with a Wall Street listing (H for homes?) and regulations and reviews as a result.  This week another change was announced for Realogy.  It seems this time an agreement has been reached for a private company to purchase Realogy and return the company to the private sector.   Apollo Management, a leading private equity firm, has offered a measly 9 billion dollars for the company.  Stockholders and government agencies must still give their final approval to the deal, but the buyer and seller have agreed on terms and only await final approval.  Since stockholders will be given a price better than the current market price, one would assume they will approve.  If the sale comes to completion, Realogy will once again become a privately held company.  The current CEO will step down at the end of his contract.  When changes like this happen in quick succession, one needs a crystal ball to figure out the future.