Rightmove says no to Murdoch’s offer of 5.6bn [Video]
Categories
Home Based Business

Rightmove says no to Murdoch’s offer of 5.6bn [Video]

Property platform Rightmove has rejected a £5.6bn bid from an Australian rival controlled by Rupert Murdoch, writes Jessica Clark.

The board of the home listings website said Melbourne-based Rea‘s offer “undervalued” the company.

The proposal valued Rightmove’s shares at 705p each. Rea also said it intended to seek a secondary listing on the London stock market to allow UK investors to trade shares in the combined company. But analysts said a bid of nearer £6bn was needed to get a deal.

Rightmove’s shares were yesterday trading below the offer price, suggesting investors are not convinced Rea will make a fresh approach.

The interest comes as the UK’s housing market shows signs of recovery, which could help Rightmove’s shares rally.

The stock has tumbled around 14% after hitting a peak of 789p in 2021. Interest rates have been cut from a 16-year high of 5.25%, with further reductions expected this year.

House prices …

Watch/Read More

Most Popular Posts Today

Most Popular This Week

Hard Hat & Heels Women Build kickoff party Thursday [Video]
►
Categories
Home Based Business Productitivity Small Business Funding Small Business Growth Small Business Ideas Small Business Lifestyle Small Business Marketing

Hard Hat & Heels Women Build kickoff party Thursday [Video]

Show your support of the Habitat for Humanity Women Build team by attending the Hard Hat & Heels Women Build kickoff party at 5:30 p.m. Thursday, April 25, at DelRay

Steve Madden Announces Accelerating Production Move From China to U.S. Due to Trump-MAGA Win; Hamid Enayat on Shift from Biden-Harris Policies on Energy-Iran; Includes More MHVille Related FEA [Video]
►
Categories
Home Based Business

Steve Madden Announces Accelerating Production Move From China to U.S. Due to Trump-MAGA Win; Hamid Enayat on Shift from Biden-Harris Policies on Energy-Iran; Includes More MHVille Related FEA [Video]

Steve Madden Announces Accelerating Production Move From China to U.S. Due to Trump-MAGA Win, Hamid Enayat on Shift from Biden-Harris Policies on Energy-Iran, Includes More MHVille Related FEA, Manufactured housing, manufactured home, transportation, fuel, affordable housing, foreign and domestic policy, Patrick Bet David, Mark Weiss, Danny Ghorbani, Manufactured Housing Association for Regulatory Reform, MHARR, praise for MHProNews/MHLivingNews, L. A. "Tony" Kovach, Patch contributor,