REA eyes global transformation with $9b Rightmove purchase
Sam Buckingham-JonesMedia and marketing reporter
REA Group is considering a takeover of Rightmove, the United Kingdom’s largest property platform, in a deal that could cost more than $9 billion and transform the ASX-listed, News Corporation-backed real estate giant into a global player.
REA told investors on Monday it was considering “a possible cash and share offer for the entire issued and to-be-issued share capital of Rightmove”, citing “clear similarities between REA and Rightmove” that would allow it to build a global empire.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
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