After rumors circulated that Realogy was in talks to acquire Trulia, its CEO Pete Flint told CNBC that the company was not for sale, and that the company was instead actively looking into potential opportunities to acquire smaller companies.
When Benzinga reached out to both Move Inc. and Trulia Inc. but neither offered any comments on the possible deal.
Shares of Move Inc., which operates Realtor.com hit a 52-week low of $9.47 last month, but they have been steadily soaring in recent weeks, reaching almost eight percent yesterday, trading at $14.98.
Trulia acquired Market Leader, Inc., in August of last year. The property portal paid approximately $170 million in cash and issued approximately 5.3 million shares of common stock in connection with the acquisition.
The above article was primarily sourced from Benzinga.com.