Rightmove Rejects £6.2bn Takeover Bid from Murdoch's REA Group

UK property portal Rightmove has turned down a fourth offer from REA, citing undervaluation and a preference for its standalone strategy.

Rightmove's board unanimously rejected REA's latest bid, valuing the company at 780 pence per share.
The proposal included 346 pence in cash, 0.0417 new REA shares, and a 6 pence dividend sweetener.
Rightmove's board believes the offer undervalues the company's future prospects and prefers to follow its standalone strategic plan.
REA expressed disappointment over the lack of engagement from Rightmove, stating it impeded their ability to make a firm offer.
The decision follows multiple rejections, with Rightmove emphasizing its confidence in its market leadership and growth opportunities.