REA Group Ltd (AU:REA) has released an update.
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REA Group Ltd has expressed disappointment after Rightmove plc’s Board of Directors rejected their increased takeover offer, which REA believes significantly undervalues Rightmove. Despite multiple proposals and a belief in the strong value proposition for Rightmove’s shareholders, REA has yet to engage in substantive discussions with Rightmove. The company urges Rightmove shareholders to push for engagement before the upcoming deadline, although there is no certainty that any offer will proceed.
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