Boards approve Rocket’s acquisition of Mr. Cooper

Additionally, Mr. Cooper will distribute a special cash dividend of $2 per share to its stockholders, according to filings with the Securities and Exchange Commission. 

Rocket board members determined that the transaction is “fair to and in the best interest of Rocket and the Rocket stockholders.” 

Rock Holdings Inc., which controls 79% of Rocket’s voting power, has provided written consent for the Rocket stock issuance, eliminating the need for further action from Rocket stockholders to finalize the transaction.

Meanwhile, Mr. Cooper will hold a special stockholder meeting on Sept. 3 to vote on the necessary proposal to complete the merger.

In late March, Rocket unveiled its ambitious plan to acquire Mr. Cooper, following closely on the heels of its announced…