Rupert Murdoch-owned firm REA makes £5.6bn offer for Rightmove

Board rejects non-binding indicative proposal of 705p a share for UK’s biggest online real-estate portal

REA, the Australian property company majority-owned by Rupert Murdoch’s News Corp, has made a £5.6bn offer for Rightmove, the UK’s biggest online real-estate portal.

The Rightmove board rejected the 705p a share offer, worth 18.6% of the enlarged company post-deal, which comes a week after REA confirmed it was considering a cash and share offer for Rightmove. Continue reading...