Rightmove Considers £6.1 Billion REA Bid

Rightmove has announced it will 'carefully consider' a £6.1bn bid from REA Group, Rupert Murdoch's property company, marking the third takeover attempt in less than three weeks. The latest offer values Rightmove at 770p per share, which exceeds previous bids of 705p and 750p per share. REA's ongoing interest reflects News Corp's strategy to diversify its business, with Rightmove's board previously rejecting earlier offers as 'opportunistic' and undervaluing the company. Despite the pressure from REA, Rightmove shares have risen significantly, indicating strong market fundamentals and confidence in future growth. REA has expressed disappointment at Rightmove's lack of engagement and emphasized that the latest proposal represents a compelling opportunity for shareholders. Analysts suggest that a bid exceeding 800p may be necessary for acceptance, should Rightmove ultimately reject the current offer.