Reported 29 days ago
REA Group, led by Rupert Murdoch, offered £5.6 billion ($7.3 billion) to acquire Rightmove, the UK's largest property portal; however, this proposal was swiftly rejected. The deal included a cash-and-stock option, providing a 27% premium on Rightmove's share price before the proposal was made public. Instantly after the news, Rightmove's shares responded negatively, while REA must decide by September 30 on its next steps regarding the offer.
Source: YAHOO