Rupert Murdoch's property group considers bid for UK's Rightmove, sending shares 21% higher
Publishing timestamp: 2024-09-02 11:49:53
Summary
Rupert Murdoch-owned REA Group is considering a takeover offer for U.K. property portal Rightmove in order to create a global digital real estate business. Shares of Rightmove surged 25% following the announcement, while REA Group's shares fell. The potential acquisition is seen as a "transformational opportunity" with clear similarities between the two firms. REA Group has until the end of September to make a formal offer.
Sentiment: NEUTRAL
Tickers: REA-AU, CSGP, RMV-GB, DHG-AU, NWSA,
Keywords: rightmove plc, business news, real estate, domain holdings australia ltd, rea group ltd, business, costar group inc, news corp, housing,