Australian property conglomerate REA Group is considering a takeover bid of its £4.4bn London-based peer Rightmove as it looks to expand its global property empire.
Majority owned by media tycoon Rupert Murdoch's News Corp, the REA board said that the takeover would "represent a highly attractive investment opportunity for both REA and Rightmove shareholders" in a statement released today (2 September). The deal, which would be a possible cash and share offer for Rightmove's entire issued share capital, would see REA become the largest property company in both Australia and the UK Nick Train adds to Rightmove as long-term holdings Burberry and Remy Cointreau struggle REA, which is valued at over AU$28.9bn (more than £14.9bn) according to Marke...
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