REA Group Considers Rightmove Takeover Bid

REA Group, the Australian property company majority owned by Rupert Murdoch's News Corp, is considering a cash and share takeover bid for the UK's leading property portal, Rightmove. This potential acquisition has already led to a 25% surge in Rightmove's shares, boosting its market value to approximately £5.4 billion. While REA has not yet approached Rightmove or engaged in discussions, it sees a transformational opportunity to enhance customer value through a combined portfolio. Analysts express concerns that the situation could become complex, particularly due to Rightmove's share price dynamics and REA's need to issue stock to fund the deal. REA has until September 30 to formally announce its intentions, amid a backdrop of heightened merger and acquisition interest in the UK property market. The deal could create a significant global digital real estate company, leveraging the strengths of both firms.