REA Group Ltd (AU:REA) has released an update.
REA Group Ltd is contemplating a strategic acquisition of Rightmove plc, aiming to create a global digital property leader with strong market positions in both Australia and the UK. The potential cash and share offer, yet to be discussed with Rightmove, promises to unlock significant shareholder value by combining growth, innovation, and strong financials. However, there is no certainty of a formal offer as REA has until 30 September 2024 to announce its intentions in line with the UK Takeover Code.
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