Rightmove suitor REA walks away from bid after £6.2bn approach rebuffed

Published on 30 Sep 2024 on PA Media: Money · via Yahoo Finance

Rightmove suitor REA walks away from bid after £6.2bn approach rebuffed

Rupert Murdoch’s REA Group has abandoned its pursuit of British rival Rightmove after its last takeover approach worth £6.2 billion was rejected.

Australian firm REA, which is majority-owned by the tycoon’s News Corp group, confirmed it will not make a firm offer for Rightmove, sending shares in the FTSE 100 listed property portal slumping by 7%.

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