Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,673.90
0.39%
Copper
4.36
(0.99%)
Oil
70.94
(0.8%)
Bitcoin
65,699.95
(0.55%)
FTSE 100
8,263.73
(0.35%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.15%)
Hang Seng
20,318.79
(3.46%)

REA Group (ASX: $REA) urges Rightmove plc to engage in constructive discussions

REA Group's increased possible offer for Rightmove plc


REA Group Ltd (ASX:REA) has confirmed that the Board of Directors of Rightmove plc rejected the Further Improved Proposal, which was a further increased possible offer for the entire issued and to be issued share capital of Rightmove at an implied total offer value of 770 pence for each Rightmove share. The rejection characterized the Further Improved Proposal as unattractive and materially undervaluing Rightmove.

REA Group's perspective on the rejection and future plans


REA is disappointed by the latest rejection from the Board of Directors of Rightmove and is frustrated by the lack of substantive engagement with Rightmove, apart from the rejection of three previously disclosed proposals. The company firmly believes that the Further Improved Proposal represents a highly compelling proposition for Rightmove's shareholders at a significant premium to relevant trading metrics, providing a combination of immediate value certainty in cash and the opportunity to benefit from the future value creation of the combined business. REA urges Rightmove shareholders to encourage the Board of Directors of Rightmove to engage in constructive discussions with REA to work towards a recommended transaction, ahead of the upcoming deadline under Rule 2.6(a) of the Code on 30 September 2024. REA remains ready to engage immediately with the Board of Directors of Rightmove.

Summary of REA Group's announcement and outlook


REA Group's announcement confirms the rejection of its Further Improved Proposal by the Board of Directors of Rightmove plc. Despite the rejection, REA remains committed to its capital allocation framework and maintains a disciplined approach to mergers and acquisitions. The company emphasizes that there can be no certainty that an offer to Rightmove shareholders will be made by REA or that any transaction will proceed. The Further Improved Proposal is non-binding and subject to customary conditions, including completion of due diligence to the satisfaction of REA. REA reserves the right to introduce other forms of consideration and/or vary the mix or composition of consideration of any offer. The company will continue to keep the ASX informed in accordance with its obligations, and REA shareholders do not need to take any action at this time.

REA GROUP LTD
REA | ASX | Communication Services
224.165.16(+2.36%)
At close 14/10 (AEDT)
Market cap
$29.6B
Volume
117,383
DY Yield
0.0091
PE Ratio
97.88647
52 Week Range
140.5 - 224.36
1YR Return
N / A

0 Comments
Inline Feedbacks
View all comments
Social Media Auto Publish Powered By : XYZScripts.com

Stock Piper AI Index Coming Soon!

Join our Newsletter to gain exclusive insight and be notified once we are live.

By clicking Subscribe, you agree to our Terms & Conditions

ASX News, First And Fast.

Get all the latest market updates straight to your inbox.

By clicking Subscribe, you agree to our Terms & Conditions