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(Reuters) - Shares of Australia's REA Group rose 4% on Tuesday, after the property listing firm decided to end its $8.29 billion takeover pursuit for Rightmove following a fourth bid rejection from the British real estate portal.
REA, which is 62% owned by Murdoch's News Corp, decided to walk away from making a formal offer for Rightmove ahead of a 1600 GMT deadline on Sept. 30.
Rightmove had also declined a request from REA to grant due diligence access, adding that shareholder interests woul...
>>> Read more: Australia's REA rises after walking away from $8.3 billion takeover offer for UK's Rightmove
REA, which is 62% owned by Murdoch's News Corp, decided to walk away from making a formal offer for Rightmove ahead of a 1600 GMT deadline on Sept. 30.
Rightmove had also declined a request from REA to grant due diligence access, adding that shareholder interests woul...
>>> Read more: Australia's REA rises after walking away from $8.3 billion takeover offer for UK's Rightmove
