Merger talks between REcolorado and IRES were ongoing throughout the end of last year and are in full swing, as we kick off 2018.
As reported previously, discussions are focused on the details of the Binding Agreement to Merge, which was signed by IRES and REcolorado last year. In addition, merger documents are being reviewed by attorneys representing all parties.
What are next steps?
The IRES owners and REcolorado shareholders are meeting on January 29 to review all merger documents and discuss any outstanding issues. Once all documents are finalized, they will be provided to the boards of each organization, and then the IRES owners and REcolorado shareholders for final approval.
Upon receiving shareholder & owner approval, a closing date will be announced. A quick, thoughtful, and collaborative approach to integrating the two MLS organizations will begin once the deal is closed.
IRES and REcolorado have heard from many of you asking, “What is taking so long?” We want to thank you for your ongoing interest and patience, as volunteers and MLS staff work through important details. Although the timeline has stretched, we are making progress and remain confident we will achieve our goal of creating a single MLS that will serve Denver Metro Area and northern Colorado, just as you have asked.
We will continue to keep you informed as new information is available. In the meantime, you are welcome to contact our Customer Service teams or your REALTOR Association if you want more information.
Related Post: REcolorado and IRES Continue Merger Talks