Murdoch's REA Group Eyes £5.4 Billion Takeover of Rightmove

The potential acquisition would merge Australia's largest property portal with the UK's leading real estate website.

Rightmove shares surged 25% following news of the potential bid, reaching a market value of £5.4 billion.
REA Group, controlled by News Corp., has until September 30 to decide on making a formal offer.
A merger could enhance REA's global footprint, adding value through combined resources and innovation.
Investors express concerns over the equity raise required to fund the acquisition, impacting REA's stock.
Rightmove faces competition from CoStar-owned OnTheMarket, intensifying the UK property portal market.