Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Rightmove weighs third takeover offer from Australian property giant Rea Group

by September 23, 2024
September 23, 2024

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.

Read more:
Rightmove weighs third takeover offer from Australian property giant Rea Group

0
FacebookTwitterGoogle +Pinterest
previous post
Landlords face ban on renting energy-inefficient homes under labour’s new policy
next post
Strength in Numbers: How Group Coaching Transforms Leadership Development

You may also like

JP Morgan’s Jamie Dimon puts US recession risk...

April 14, 2025

British carmakers report rising production six months in...

March 28, 2024

HMRC blocks over 100 million malicious emails in...

April 10, 2025

Budget 2024 predictions: potential announcements from Rachel Reeves

September 25, 2024

This is Milk hires fresh talent with 15...

May 26, 2023

Swiss court orders Lidl chocolate bunnies to be...

September 30, 2022

HMRC Seeks Another Bite in ‘Mega Marshmallow’ Tax...

May 17, 2024

New Home Office fraud legislation exposes employers to...

April 24, 2023

Cloud-Based Remote Monitoring for Manufacturing – Key Benefits

March 27, 2024

Cryptocurrencies surge as Trump unveils us ‘crypto reserve’

March 3, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

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

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) 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.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved