news-details

Murdoch's REA ups offer for property website Rightmove

REA Group, the Australian online property website majority-owned by Rupert Murdoch's News Corp empire, said Monday it has made a third multi-billion-pound offer to buy British peer Rightmove.

The latest proposal, worth £6.1 billion (US$8.1 billion), comes after Rightmove rejected REA's previous two bids made this month.

"We are genuinely disappointed at the lack of engagement by Rightmove's Board," REA CEO Owen Wilson said in a statement published on the London Stock Exchange.

Rightmove confirmed in a statement that it had received a third proposal that was "unsolicited, non-binding and highly conditional".

Rightmove chairman Andrew Fisher said the board rejected the first two proposals as they "were uncertain, highly opportunistic and unattractive".

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market