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Rightmove Rejects Rupert Murdoch's REA Group's Third Bid Valued at £6.1 Billion

1 hour ago

Rightmove Rejects Rupert Murdoch's REA Group's Third Bid Valued at £6.1 Billion
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7 Highlights

  • Rightmove declined REA Group's £6.1 billion bid, considering it undervalued.
  • REA Group has until September 30 to submit a new offer for Rightmove.
    • Rightmove's board advises shareholders to reject takeover offers.
    • This is REA's third attempt; each bid has slightly increased.
    • REA's attempts are viewed as opportunistic by Rightmove.
    • Rightmove remains the top UK property portal despite competition.
    • REA Group is majorly owned by Murdoch's News Corp.
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