Shareholders propose settlement in MLSNI-MAP merger dispute

The 10 shareholder Realtor groups that own Chicago-area Multiple Listing Service of Northern Illinois have worked out their differences in a settlement agreement that would allow a merger between MLSNI and another Chicago-area MLS (see Inman News).

The settlement proposal, which seeks to resolve a lawsuit that is now under appeal, will be considered by the MLSNI board next month, and will also be considered by shareholders and the board for MAP MLS, the MLS that is pursuing a merger with MLSNI.

Half of the shareholder Realtor groups had filed a lawsuit last year against MLSNI and the other shareholder groups to block the merger. The planned merger has been a lengthy and messy process to date, and it's not a done deal until all parties have signed off.

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