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

Value investor Seth Klarman added Amazon last quarter. Here’s what else he bought

February 17, 2026

Baupost Group’s Seth Klarman picked up Amazon in the fourth quarter, a bet that has yet to work out for the value investor this year as tech stocks take a hammering. The Boston-based hedge fund manager took a new position in Amazon amounting to $489.7 million, making the online retailer the firm’s second-largest holding, according […]

Amazon has lost 0 billion in value during this historic losing streak. Here’s what’s dragging it down

World

Amazon has lost $450 billion in value during this historic losing streak. Here’s what’s dragging it down

February 17, 2026

Andy Jassy, CEO of Amazon, speaking with CNBC at the World Economic Forum in Davos, Switzerland on Jan. 20, 2026. CNBC Amazon shares whipsawed on Tuesday, as the stock attempted to make a comeback from a historic slide. Should the stock close in the red, it would mark a tenth-straight negative session, tying the company’s […]

World

Iran partially closes Strait of Hormuz, a vital oil chokepoint, as U.S. talks get underway

February 17, 2026

Iranian Navy soldiers at an armed speed boat in Persian Gulf near the strait of Hormuz about 1320km (820 miles) south of Tehran, April 30, 2019. Morteza Nikoubazl | Nurphoto | Getty Images Iran partially closed the strategically vital Strait of Hormuz on Tuesday, state media reported, citing “security precautions” as Tehran’s Revolutionary Guards conduct […]