Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Rightmove weighs third takeover offer from Australian property giant Rea Group

by
September 23, 2024
in Top News
0
Rightmove weighs third takeover offer from Australian property giant Rea Group
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Rightmove is set to consider a third £6.1 billion bid from Melbourne-based Rea Group after rejecting two previous offers.

The latest offer from Rea Group values the UK property platform at 770p per share, comprising 341p in cash and 0.0422 new Rea shares. Rightmove’s chairman, Andrew Fisher, confirmed that the board will carefully evaluate the revised proposal in consultation with financial advisers.

Earlier bids were dismissed by Rightmove as “opportunistic” and undervaluing the company’s potential. Despite this, the latest offer has boosted Rightmove’s stock, with shares climbing 2.6%, or 17½p, to 692p.

Rea Group, 61% owned by News Corp, has expressed its willingness to engage with Rightmove’s board immediately. The Australian firm is also planning a secondary listing on the London Stock Exchange to complement its current listing on the Australian Securities Exchange.

Rightmove dominates the UK house search market, holding an 86% share and boasting high profit margins. However, its shares have underperformed over the past year due to fears of rising competition from OnTheMarket, which was acquired by CoStar in a £99 million deal.

Rea has until September 30 at 5pm to either make a firm offer or walk away under the UK’s takeover code.

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post

Mapua Cardinals gun for share of NCAA lead against LPU Pirates

Recommended

Why the Market is Ready to Rally!

Why the Market is Ready to Rally!

March 16, 2025
LH Paragon Group launches Clinica Prime, ushers in Filipino brand of primary healthcare excellence

LH Paragon Group launches Clinica Prime, ushers in Filipino brand of primary healthcare excellence

September 5, 2024
Treasury bill rates inch up on inflation concerns

Treasury bill rates inch up on inflation concerns

November 25, 2024
PHL envoy bats for deployment assistance, job credential boost for Filipinos in Canada

PHL envoy bats for deployment assistance, job credential boost for Filipinos in Canada

January 5, 2025
Manila office market likely to fully recover in 18-24 months — Cushman

Manila office market likely to fully recover in 18-24 months — Cushman

September 23, 2024
Energy firms to post mixed results for second half — analysts

Energy firms to post mixed results for second half — analysts

September 5, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank you

    Copyright © 2025 investdailypro.com | All Rights Reserved