Australia's REA sweetens takeover offer for Britain's Rightmove to $8.1 billion
Hindustan TimesAustralian property listing firm REA Group has made a third pitch to buy British rival Rightmove with a new 6.1 billion pound offer on September 23 after its two previous offers were rejected. Australia's REA sweetens takeover offer for Britain's Rightmove to $8.1 billion The latest offer consists of 341 pence in cash and 0.0422 new REA shares giving Rightmove an implied value of 770 pence per share. "We are genuinely disappointed at the lack of engagement by Rightmove's board and we strongly encourage the Rightmove board to engage," REA CEO Owen Wilson said in a statement. "The increased offer is clearly aimed at bringing the Rightmove board to the negotiating table," said S&P analyst Entcho Raykovski, noting News Corp's REA ownership would be reduced to about 49% if a deal progresses.
History of this topic
Murdoch's REA in London for Rightmove bid talks: Aussie homes website bosses trying to make case for £6.2bn takeover
Daily Mail
Rupert Murdoch’s REA makes fourth takeover offer for Rightmove worth £6.2bn
The Independent
Rightmove snubs REA again, saying £6.1 billion bid is still low
Hindustan Times
Murdoch edges closer to Rightmove takeover - but property website may hold out for a higher offer
Daily Mail
Australia’s REA ups takeover approach for Rightmove to £6.1bn
The Independent
Murdoch family up bid for Rightmove to £5.9bn
The TelegraphDiscover Related
