Mortgage company Rocket buying Mr. Cooper in all-stock deal valued at $9.4 billion

Less than a month after the mortgage giant Rocket Companies moved to absorb the real estate platform Redfin, the company has already struck another major deal: This morning, Rocket Companies (NYSE: RKT) announced it has reached an agreement to acquire its home loan competitor, Mr. Cooper Group Inc. (NASDAQ: COOP), in an all-stock transaction valued at $9.4 billion.

According to a press release, the proposed acquisition will expand Rocket Companies’ servicing portfolio to $2.1 trillion...