Lawmakers press DOJ on Compass-Anywhere Real Estate merger review
Federal
lawmakers
are
urging
the
Department
of
Justice
(DOJ)
to
take
a
closer
look
at
the
closed
$1.6
billion
merger
deal
between
Compass
and
Anywhere
Real
Estate. The
effort
is
being
led
by
Sen.
Elizabeth
Warren
(D-Mass.)
and
Rep.
Becca
Balint
(D-Vt.)
with
16
other
Democrats
as
co-signers.
In
a
letter
sent
Thursday
night
and
obtained
exclusively
by
HousingWire,
the
lawmakers
press
Attorney
General
Pam
Bondi
for
details
about
the
DOJ’s
antitrust
review
of
the
merger
between
Compass
and
Anywhere.
The
lawmakers
say
the
letter
comes
after
reports
that
former
assistant
attorney
general
for
antitrust
Gail
Slater
wanted
to
undertake
an
extended
review
of
the
merger
to
consider
any
potential
anticompetitive
impacts.
However,
reports
claimed
that
Compass
and
its
attorneys
appealed
to
Slater’s
superiors
including
Deputy
Attorney
General
Todd
Blanche,
telling
his
office
that
any
antitrust
concerns
could
be
addressed
without
a
full-scale
investigation.
Lack
of
review
raises
questions
of
corruption
“This
decision
raises
questions
about
corruption
under
your
watch
and
its
impact
on
housing
affordability
for
American
families,”
the
lawmakers
wrote
in
their
letter.
“Allowing
this
merger
will
make
it
easier
for
these
firms
to
exert
greater
control
over
the
real
estate
market,
limit
consumer
access
and
choice
and
ultimately
exacerbate
the
housing
crisis
that
has
put
homeownership
out
of
reach
for
millions
of
Americans.”
The
lawmakers
argue
that
due
to
the
potential
impact
on
costs
and
markets,
mergers
must
face
an
“evenhanded”
review
process
“especially
in
cases
like
the
Compass-Anywhere
merger,
where
consolidation
may
raise
risks
of
reduced
competition,
diminished
transparency
and
higher
housing
costs
for
millions
of
Americans.”
“The
fact
pattern
reported
in
the
Compass-Anywhere
deal
is
deeply
disturbing,
indicating
that
it
may
be
another
example
of
well-connected
industries
and
lobbyists
obtaining
inside
access
to
high-level
Trump
Administration
DOJ
officials,
and
using
this
access
to
pervert
the
antitrust
process
to
obtain
approval
of
anticompetitive
mergers
that
will
reduce
competition
and
harm
the
public,”
the
letter
states.
The
lawmakers
go
on
to
claim
that
the
typical
review
process
used
to
examine
mergers
does
not
appear
to
have
been
followed
when
it
comes
to
the
Compass-Anywhere
merger.
Should
the
DOJ
take
another
look?
The
letter
discusses
the
reports
that
senior
DOJ
leaders
cleared
the
merger
without
a
deeper
review, despite
Slater
calling
for
a
more
extended
investigation.
“This
approval
from
Blanche
came
after
Compass
reportedly
hired
Mike
Davis,
a
[President
Donald]
Trump-aligned
lawyer
who
has
been
involved
in
other
merger
review
controversies,
to
help
gain
approval
of
the
Compass-Anywhere
merger,
and
reporting
suggests
that
Davis
‘helped
Compass
make
its
case
to
Blanche’s
office,’
contributing
to
the
accelerated
clearance
timeline.”
The
lawmakers
argue
that
a
corrupt
review
and
an
expedited
clearance
of
this
merger
“could
exacerbate
the
current
housing
crisis”
and
set
“a
dangerous
precedent
that
invites
political
interference
in
merger
review
across
industries
and
undermines
the
antitrust
laws
that
Congress
put
in
place
to
safeguard
competition
and
protect
Americans.”
Slater
leaves
the
DOJ
In
addition
to
their
concerns
over
the
merger,
the
lawmakers
also
discussed
Slater’s
recent
departure
from
the
DOJ.
Last
week,
Slater
announced
she
was
stepping
down
as
the
DOJ’s
antitrust
chief.
In
a
post
on
X,
Slater
wrote
that
it
was
with
“great
sadness
and
abiding
hope”
that
she
left
her
role
as
assistant
attorney
general
for
antitrust.
Slater
called
serving
in
the
position
“the
honor
of
a
lifetime.”
In
a
statement,
Bondi
wrote
that
the
DOJ
thanked
Slater
for
her
service
to
the
DOJ’s
Antitrust
Division
“which
works
to
protect
consumers,
promote
affordability
and
expand
economic
opportunity.”
Despite
Bondi’s
public
statement,
the
lawmakers’
letter
claims
that
Davis
“boasted,
‘I
recommended
her
[Slater’s]
hiring.
And
her
firing[,]’
and
declared
‘good
riddance’
minutes
after
her
departure
became
public.”
Due
to
their
concerns,
the
lawmakers
are
asking
the
DOJ
to
answer
several
questions
in
writing
by
March
4,
2026.
These
questions
request
that
the
DOJ
provide
detailed
information
about
its
review
of
the
merger,
including
when
the
Hart-Scott-Rodino
filing
was
submitted,
what
competitive
concerns
were
identified
and
whether
additional
investigation
was
considered.
They
also
seek
to
understand
who
made
and
communicated
the
decision
not
to
pursue
further
action,
the
roles
of
senior
DOJ
officials
and
any
outside
individuals,
and
whether
any
communications
occurred
outside
normal
review
channels.
Finally,
the
questions
address
safeguards
against
improper
influence,
the
DOJ’s
commitment
to
fair
and
consistent
merger
enforcement
and
the
circumstances
surrounding
Assistant
Attorney
General
Slater’s
departure.
Co-signers
of
the
letter
include
Sen.
Amy
Klobuchar
(D
–
Minn.),
Sen.
Bernie
Sanders
(D-Vt.),
Sen.
Chuck
Schumer
(D-N.Y.),
Sen.
Peter
Welch
(D
-Vt.),
Sen
Wyden
(D-Ore.),
Rep.
Yassamin
Ansari
(D-Ariz.),
Rep.
Greg
Casar
(D-Texas),
Rep.
Madeleine
Dean
(D-Pa.),
Rep.
Maxine
Dexter
(D-Ore.),
Rep.
Jesús
“Chuy”
García
(D-Ill.),
Rep.
Pramila
Jayapal
(D-Wash.),
Rep.
Hank
Johnson
(D-Ga.),
Rep.
Robin
Kelly
(D-Ill.),
Rep.
Seth
Moulton
(D-Mass.),
Rep.
Jerry
Nadler
(D-N.Y.)
and
Rep.
Bonnie
Watson
Coleman
(D-N.J.).
Compass
did
not
immediately
return
HousingWire’s
request
for
comment
on
this
letter.
This
is
not
the
first
time
Senator
Warren
has
raised
concerns
about
the
Compass-Anywhere
merger.
In
another
letter
sent
to
the
federal
regulators
in
December,
Senator
Warren
and
Senator
Wyden
argued
that
the
acquisition
could
harm
homebuyers
by
contributing
to
higher
broker
fees
and
limiting
access
to
property
listings.





