Australia’s REA Group on Friday sweetened its takeover offer for British real estate firm Rightmove and valued it at 6.2 billion pounds ($8.29 billion) after the UK firm rejected three of its buyout offers previously.
The new proposal from REA, a property listing firm, comprises of an offer price of 775 pence apiece, a more than 17% premium to Rightmove’s closing price on Thursday, as well as an additional special dividend of 6 pence per share.
REA’s new bid is higher than its previous offer of 770 pence per share, or 6.1 billion pounds.
Rightmove rejected the last three proposals from REA, saying they undervalued the company and were “uncertain, highly opportunistic and unattractive”.
The UK firm did not immediately respond to a Reuters request for comment.
Source Homevior.in
