❓WHAT HAPPENED: The merger of Compass and Anywhere Real Estate, valued at $1.6 billion, was approved without a detailed antitrust investigation.
👤WHO WAS INVOLVED: Compass, Anywhere Real Estate, the Justice Department, and lawyer Mike Davis.
📍WHEN & WHERE: The merger completes on January 9, 2026, in the United States.
🎯IMPACT: Compass will control nearly 20 percent of the U.S. home-sales volume, raising concerns over market share in major metropolitan areas.
A $1.6 billion merger between Compass and Anywhere Real Estate was approved by the Department of Justice (DOJ) without a full antitrust investigation, despite objections from enforcement staff, according to reports. Senior DOJ officials allegedly overruled internal calls for an in-depth review after Compass retained Trump-aligned attorney Mike Davis, who argued the company’s case directly to Deputy Attorney General Todd Blanche’s office. Those officials concluded that potential competition concerns could be addressed without launching a formal probe, allowing the deal to close far more quickly than initially expected.
The Justice Department’s antitrust division, led by Trump loyalist and populist figure Gail Slater, had pushed for a detailed examination of whether the merger would reduce competition in local real estate markets. That effort ultimately failed after intervention from higher-ranking officials. As The Wall Street Journal noted, “Davis previously assisted Hewlett Packard Enterprise to reach a $14 billion deal with the Justice Department that allowed it to acquire rival Juniper Networks but caused a fight within the department over his involvement.”
Davis is a well-known figure in Trump-world legal circles. A former Senate aide and founder of the Article III Project, he has been a vocal defender of Trump. He has also been described as a politically connected operator with close ties to Republican legal and lobbying networks.
The Compass-Anywhere merger creates one of the most powerful firms in the U.S. residential real estate market. Analysts estimate that Compass will oversee nearly 20 percent of total home sales volume nationwide, with a market share potentially exceeding 30 percent in major cities, including Chicago, New York, and San Francisco.
The deal has drawn renewed attention to the influence of lobbyists and former Trump administration officials now working in Washington’s corporate advocacy world. Several former Trump White House aides have moved into K Street lobbying roles, representing clients seeking favorable treatment from federal regulators. Other reporting has highlighted pressure campaigns by lobbyists and political allies aimed at persuading senior Justice Department officials to scale back or bypass aggressive antitrust enforcement.
A Justice Department spokesman said the approval does not prevent future action, noting that regulators may still pursue enforcement if anticompetitive effects emerge after the merger.
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