Real Estate
Rightmove Piles Pressure on REA for ‘Best’ Offer; Shares Dip
- Murdoch’s REA Group has put four takeover proposals in a month
- Rightmove rejects REA’s request to extend Monday deadline
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UK property portal Rightmove Plc urged REA Group Ltd. to submit its “best and final proposal” after rejecting the Australian firm’s fourth takeover bid in less than a month.
The London-listed company reiterated that the latest proposal valuing it at £6.2 billion ($8.3 billion) remains unattractive, according to a statement on Monday, and added that REA must put its final offer on the table before Monday’s 5 p.m. regulatory deadline, rejecting a request for an extension.