Rupert Murdoch-backed REA Group set to increase takeover bid for Rightmove September 15, 2024 The Australian real estate giant REA Group owned by Rupert Murdoch is reportedly considering upping its bid for the British property platform Rightmove.
Rightmove formally rejects £5.6bn takeover proposal from Rupert Murdoch-backed REA September 11, 2024 This morning, Rightmove announced that it had formally rejected a £5.6bn takeover bid from Rupert Murdoch-owned property company REA group on 2 September. The property portal confirmed it had received an “unsolicited, non-binding and highly conditional proposal” from REA at 698p, which represented a a premium of 26 per cent to Rightmove’s share price on [...]
Jefferies upgrades Rightmove as REA group eyes £4.4bn takeover bid September 9, 2024 Jefferies analysts have upgraded their guidance for Rightmove as they believe Australian real estate giant REA Group will probably make a formal offer for the British property platform. Last week, Rupert Murdoch’s News Corp-backed REA said it is considering a £4.4bn cash and share offer for Rightmove, sending the latter’s shares up nearly 25 per cent. Rightmove [...]
How Rightmove became London’s (and the FTSE 100’s) most profitable company September 3, 2024 From an unknown tech start-up to the undisputed king of the UK’s online property sector, Rightmove is a shining example of how to turn a simple idea into a whole lot of profit. In its most recent full-year results, the London-listed property portal astounded investors by revealing it had achieved a record 71 per cent operating profit margin – [...]
Rightmove speaking to UBS and Morgan Stanley after REA takeover interest September 3, 2024 Rightmove is reportedly speaking to UBS and Morgan Stanley on its response to the unsolicited takeover bid from Rupert Murdoch’s REA Group, according to Bloomberg. REA announced its intention to explore a possible cash and share offer for the UK’s biggest property portal in a statement yesterday to the Australian Stock Exchange. It has said [...]
Rightmove shares jump by a quarter as News Corp-owned REA eyes £4.4bn swoop September 2, 2024 Australian property giant REA Group, backed by Rupert Murdoch's News Corp, is considering a £4.4bn takeover bid for UK competitor Rightmove.
‘Buyer buzz’: Outlook raised for UK house prices after interest rates cut August 19, 2024 Property portal Rightmove has said there is a “degree of buyer buzz” in the housing market, caused by the moderation in mortgages in light of the Bank of England’s decision to cut the base interest rate. It raised its house price forecast for 2024 from negative one percent to one per cent, citing more interest [...]
Rightmove shares slump after firm ends contract with Openrent after terms dispute August 6, 2024 Rightmove shares have slumped after the company announced that its contract with online letting agent Openrent would soon end after both parties failed to agree on the conditions of the deal. Rightmove said that resale listings on its platform would not be affected by this change but the news clearly disappointed the market as the [...]
Rightmove urges Reeves to keep stamp duty threshold for first-time buyers as it posts ‘solid but uninspiring’ results July 26, 2024 Property giant Rightmove has called on the Government to retain the stamp duty threshold for first-time buyers, as it announced a solid but “uninspiring” set of results. Revenue at Rightmove rose by seven per cent to reach £192.1m, “as both agents and new homes developers renewed contracts, upgraded their packages and invested in additional products”, [...]
Average London rent on the rise as price outside the capital reaches record high July 3, 2024 The average advertised monthly rent in London has continued to rise while prices outside of the capital reached a record high, according to Rightmove.