REA Group Ltd (AU:REA) has released an update.
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REA Group Ltd has persisted in its efforts to acquire Rightmove plc, with its latest offer valuing the company at approximately £6.1 billion or 770 pence per share, which is a significant premium over Rightmove’s recent share prices. Despite previous rejections, REA’s new proposal aims to merge the two companies into a global digital property powerhouse, offering immediate cash value and future growth potential to Rightmove shareholders. The offer is positioned as a strategic move to enhance market leadership and leverage REA’s proven expertise in driving customer engagement and expanding business adjacencies.
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