Property listings company Rightmove has rejected a third unsolicited takeover proposal from News Corp-owned Australian rival REA Group.
REA’s latest proposal, made on 22 September, valued Rightmove at £6.1bn, comprising 341p in cash and 0.0422 REA shares for each Rightmove share.
Rightmove said today that the proposal “continues to be unattractive and materially undervalues the company and its future prospects”. The board unanimously rejected the approach.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
