Rightmove rejects £5.6bn takeover bid from Rupert Murdoch’s REA

Rightmove said the offer was "wholly opportunistic and fundamentally undervalued" the FTSE 100 company

In this photo illustration, the Rightmove app is displayed on a smartphone in front of a UK house.
(Image credit: Photo illustration by John Keeble/Getty Images)

Rightmove has rejected a takeover offer from Rupert Murdoch's REA Group, which values the online property firm at £5.6 billion. Rightmove said the proposal "fundamentally undervalued" the company.

REA, which is majority-owned by Murdoch's News Corp, said it had put forward an offer for a cash-and-shares deal, which it said would be worth 705p a share.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.

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