REA Group, Rightmove
Rupert Murdoch’s property group REA ends chase to buy Rightmove after multiple rejected offers
They had nothing to lose by engaging with us," said REA's CEO Owen Wilson.Rightmove, meanwhile, said Monday in a separate statement that its board unanimously rejected REA Group's fourth offer proposal on the grounds that it "materially undervalued Rightmove and its future prospects.
REA Group makes improved offer to buy U.K.’s Rightmove for $8.3 billion
REA Group’s new offer would give Rightmove’s shareholders a “mix and match” facility, that would let them pick a more cash-heavy deal
Australia's REA rises after walking away from $8.3 bln takeover offer for UK's Rightmove
Shares of Australia's REA Group rose 4% on Tuesday, after the property listing firm decided to end its $8.29 billion takeover pursuit for Rightmove following a fourth bid rejection from the British real estate portal.
Rightmove Rejects Third Bid From REA Group Valued at $8.1 Billion
Rightmove rejected the latest bid from News Corp.-controlled REA Group valued at $8.1 billion, saying the offer still materially undervalues the company and its future prospects.
REA makes fourth offer for Rightmove and repeats call for talks with board
REA said that, based on its own latest share price, its cash and shares offer gave Rightmove shares an implied value of 781p, valuing the company at £6.2bn. Rightmove, which this week dismissed the third offer as “unattractive”,
Murdoch's REA ends month-long takeover pursuit of Britain's Rightmove
Rightmove's shares dropped 8% on Monday after Rupert Murdoch's REA Group ended its $8.29 billion takeover pursuit following a fourth bid rejection from the British real estate portal.
Murdoch’s REA Group Shares Gain on Athena Home Stake Deal
Shares of Rupert Murdoch -owned REA Group (AU:REA) gained over 3% as of writing after announcing a deal to acquire a 19.9% ...
News Corp applauds Australia’s REA Group for abandoning attempted takeover of Rightmove – as it happened
Rolling coverage of the latest economic and financial news.   15:15 REA Group has bowed out of the battle for ...
What’s next for REA Group?
REA Group now has the job of finding its next big growth engine after walking away from its $10bn-plus UK target Rightmove, ...
Morningstar4d
REA Group: No Further Offers for Rightmove
We lower our fair value estimate for wide-moat REA Group by 2% to AUD 123 per share following the company’s announcement that it does not intend to make a further offer for Rightmove ...
Wall Street Journal7d
REA Group Tables Fourth $8.3 Billion Bid for Rightmove, Urges Board to Engage
Australia’s REA abandoned its pursuit of U.K. peer Rightmove, which earlier Monday rejected a sweetened $8.29 billion offer by the property-listing giant controlled by Rupert Murdoch’s News ...
Nasdaq3d
Murdoch-Backed REA Group Shares Gain After Rightmove Bid Withdrawal
Shares of Rupert Murdoch-backed REA Group (AU:REA) gained almost 5% after the company announced its official withdrawal from the Rightmove PLC (GB:RMV) acquisition. This came in response to ...
Morningstar4d
REA Group Withdraws Possible Offer for Rightmove
We expect REA Group’s near-term challenges to center around navigating significant volatility in the Australian housing market. After the onset of the covid-19 pandemic, REA Group received a ...