REA Group Ltd (AU:REA) has released an update.
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REA Group Ltd has approached Rightmove with a fourth non-binding indicative proposal, offering an enhanced bid that values Rightmove at approximately £6.2 billion, representing a significant premium on current trading metrics. The offer includes a mix of cash, REA shares, and a special dividend, with REA emphasizing the potential for Rightmove shareholders to benefit from the combined entity’s future growth. Despite previous rejections, REA urges Rightmove shareholders to lobby for engagement with REA before the impending deadline.
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