News Corp’s REA says US$7.3b offer rebuffed by Rightmove

News Corp appears to be wanting to get deeper into the digital real-estate business. (Image: Wiki Commons)

Thu, 12 Sep 2024

By Stuart Condie News Corp-controlled REA Group will have to sweeten the deal if it is to bring together two of the English-speaking world’s dominant real-estate listing websites, after UK counterpart Rightmove rebuffed its initial US$7.32 billion (NZ$11.9b) approach.Most takeover offers require a premium to gain shareholder approval, and analysts have spent the nine days since REA acknowledged its interest in Rightmove speculating on what would be needed. On Wednesday, REA said Rightmove’s board rejected a combination of cash...

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