Britain’s Rightmove rejects $8.1 bln sweetened bid from Australia’s REA Group

Britain’s Rightmove rejects .1 bln sweetened bid from Australia’s REA Group

The Rightmove Plc app on an App Store page on a smartphone arranged in London, UK, on Monday, Sept. 2, 2024.

Bloomberg | Bloomberg | Getty Images

British real estate portal Rightmove on Wednesday rejected a sweetened $8.1 billion takeover proposal from Australian property listing firm REA Group, saying the bid undervalued the company.

“The board considered the increased proposal… and concluded that the increased proposal continues to be unattractive and materially undervalues the company and its future prospects,” Rightmove said in a statement.

The most recent proposal from REA Group, which is 62% owned by Rupert Murdoch’s News Corp, consists of 341 pence in cash and 0.0422 new REA shares, giving Rightmove an implied value of 770 pence per share.

The latest bid came after an initial offer of 705 pence per share, or 5.6 billion pounds, and the second one of 749 pence per share, were rejected by Rightmove.

Source

World

Putin and Zelenskyy have ‘no meeting planned,’ Russian official Lavrov says

August 24, 2025

Russia’s Foreign Minister Sergey Lavrov speaks during a joint press conference with Iranian Foreign Minister Abbas Araghchi in Tehran, Iran, February 25, 2025. Majid Asgaripour | Via Reuters Russian foreign minister Sergey Lavrov threw cold water on the possibility of an imminent meeting taking place between President Vladimir Putin and Ukrainian President Volodymyr Zelenskyy, saying that no […]

World

Vietnam plans mass evacuation, China’s Sanya shuts as Typhoon Kajiki intensifies

August 24, 2025

Citizens ride on the road amid heavy rain as Typhoon Kajiki approaches on August 24, 2025 in Qionghai, Hainan Province of China. Vcg | Visual China Group | Getty Images Vietnam plans to evacuate more than half a million people and has ordered boats to stay ashore, while the southern Chinese city of Sanya closed […]

World

BOJ’s Ueda expects tightening job market to push up wages

August 24, 2025

Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a conference hosted by the bank’s Institute for Monetary and Economic Studies in Tokyo, Japan, on Tuesday, May 27, 2025. Kiyoshi Ota | Bloomberg | Getty Images Bank of Japan Governor Kazuo Ueda said wage hikes are spreading beyond large firms and likely to […]