REA News: Rightmove rejects Murdochs’ ‘opportunistic’ £5.6bn takeover bid - 11th Sep 2024, 4:56pm

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Rupert Murdoch's REA had tabled an offer at a 27pc premium on the company's share price - REUTERS/Jason Reed

Rightmove has rejected an “opportunistic” £5.6bn takeover offer from Rupert Murdoch, claiming it undervalues the online estate agent.

REA Group, the Australian real estate giant owned by Mr Murdoch’s News Corp, last week tabled an indicative cash and share bid worth 705p per share, reflecting a 27pc premium on the London-listed company’s valuation.

However, Right...

>>> Read more: Rightmove rejects Murdochs’ ‘opportunistic’ £5.6bn takeover bid