Yahoo Finance UK’s Vicky McKeever writes:
Rupert Murdoch-backed property firm REA Group (REA.AX) has made a third offer to buy UK housing portal Rightmove (RMV.L), upping its bid to £6.1bn.
In a statement on the London Stock Exchange on Monday, Rightmove said its board would “carefully consider” this increased offer.
Rightmove chair Andrew Fisher said: “Based on the implied value and structure of REA’s first and second indicative non-binding proposals, we considered these proposals to be uncertain, highly opportunistic and unattractive. Accordingly, the Board unanimously rejected them.”
He said the company’s board would “respond to the most recent proposal in due course.”
Owen Wilson, CEO of REA, said in a statement on the Australian Securities Exchange that the company’s increased offer “provides a combination of immediate value certainty in cash and at the same time gives Rightmove shareholders an increasing opportunity in core…
