World Courant
The Rightmove Plc app on an App Retailer web page on a smartphone in London, UK, on Monday 2 September 2024.
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British property portal Rightmove on Wednesday rejected an $8.1 billion takeover bid from Australian property firm REA Group, saying the takeover value was too low.
“The board has thought of the elevated proposal… and has concluded that the elevated proposal stays unattractive and considerably understates the worth of the enterprise and its future prospects,” Rightmove stated in an announcement.
The newest proposal from REA Group, which is 62% owned by Rupert Murdoch’s Information Corp, consists of 341 pence in money and 0.0422 new REA shares, giving Rightmove an implied worth of 770 pence per share.
The newest bid got here after an preliminary supply of 705 pence per share, or £5.6 billion, and a second supply of 749 pence per share have been rejected by Rightmove.
Rightmove rejects $8.1 billion bid from Australian REA Group
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