Rightmove has rejected a cash bid from Murdoch-backed REA Group to acquire the entire issued and to be issued capital of the company.
In a stock exchange notice today (11 September), Rightmove said it had received an "unsolicited, non-binding and highly conditional offer" from the Australian group. Murdoch-backed REA Group ponders Rightmove takeover Speculation regarding a potential offer started circulating last week, after REA revealed it was considering a bid for the UK listed company, however, at that time, no proposals had been made yet. The bid offered 305p in cash and 0.0381 new REA shares per Rightmove ordinary share – an offer value of 698p per share - representing a 26% premium to Rightmove's closing sh...
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