Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, U.S. September 23, 2024.
British real estate portal Rightmove rejected a sweetened $8.29 billion takeover bid from Rupert Murdoch's Australian property listing firm REA Group on Monday, saying the fourth bid still undervalued the company.
That gave Rightmove an implied value of 781 pence per share, about a 3% increase over the previous bid.
Rightmove said that during the discussions, REA had requested to extend the deadline to allow it to consider a potential fifth proposal.
The U.K. company looks primed for a steady recovery from a property market downturn as the potential for more rate cuts boosts sentiment in the U.K. housing sector.
Persons:
Rupert Murdoch, Rupert Murdoch's, REA, Rightmove, Andrew Fisher, Hamish McLennan, Rightmove's
Organizations:
REA Group, Murdoch's News Corp, REA, OnTheMarket
Locations:
Reno , Nevada, U.S, British, U.K