Australia’s REA Enhances Takeover Bid for Britain’s Rightmove to $8.1 Billion, According to Reuters

Australian property listing firm REA Group announced on Monday that it has increased its takeover offer for Rightmove to £6.1 billion ($8.12 billion) after the UK’s largest real estate portal previously rejected its initial proposal.

The revised offer suggests a value of 770 pence per Rightmove share, though Rightmove has not yet provided a response to this latest offer.

Earlier this month, Rightmove turned down an offer of 749 pence per share from REA, citing that the proposal undervalued the company.

REA, which is primarily owned by Rupert Murdoch’s News Corp, had originally presented an offer of 705 pence per share, translating to £5.6 billion for Rightmove.