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(Reuters) - News Corp-backed property listing company REA Group said on Wednesday that Britain's largest property portal Rightmove rejected its 5.6 billion pounds ($7.32 billion) buyout proposal.
Rupert Murchoch-owned REA did not cite any reason as to why its takeover offer was rejected by Rightmove.
Under the part cash, part scrip deal proposal, REA offered to pay a total of 705 pence for each Rightmove share, representing a premium of 27% to the U.K. company's closing price of 556 pence on A...
>>> Read more: Britain's Rightmove rejects $7.3 billion takeover offer from Murdoch's REA Group
Rupert Murchoch-owned REA did not cite any reason as to why its takeover offer was rejected by Rightmove.
Under the part cash, part scrip deal proposal, REA offered to pay a total of 705 pence for each Rightmove share, representing a premium of 27% to the U.K. company's closing price of 556 pence on A...
>>> Read more: Britain's Rightmove rejects $7.3 billion takeover offer from Murdoch's REA Group
