American real estate giant CoStar is proposing to acquire Domain after buying up a 20 per cent stake in a deal that would mark the biggest change to the country’s real estate market since the start of online listings.
The bid, which is expected to be confirmed on Friday, will force Nine Entertainment, Domain’s controlling shareholder, to accelerate a decision on the company’s future. In the past, the publishing and broadcasting group has considered selling its stake, or taking Domain private itself.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
