Rightmove (GB:RMV) has released an update.
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Rightmove plc has rejected a takeover proposal from REA Group Ltd, which was comprised of both cash and stock valued at a 26% premium over Rightmove’s undisturbed share price prior to the offer announcement. The Board dismissed the offer as opportunistic and substantially undervaluing the company’s worth and future prospects. Rightmove advised its shareholders to take no action, with further updates to be provided in due course.
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