Real Estate
Rightmove Is Said to Reject Improved Offer From Murdoch’s REA
- REA makes new offer valuing Rightmove at about £5.9 billion
- Buying Rightmove would boost global scale of Australia’s REA
The Rightmove Plc app.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
UK property portal Rightmove Plc has rejected an improved takeover offer from REA Group Ltd., according to people familiar with the matter.
The UK firm views the sweetened bid of nearly 750 pence a share, or about £5.9 billion ($7.9 billion) in total, as undervaluing the company, the people said, asking not to be identified because the matter is private.