Domain Agrees $3 Billion Takeover by US CoStar

US-based property data firm CoStar Group has agreed to acquire the remaining shares of Domain Holdings Australia in a $3 billion deal, offering $4.43 per share in cash, representing a 42% premium to Domain's share price before the proposal. The acquisition, supported unanimously by Domain's board and majority shareholder Nine Entertainment, is subject to approvals including shareholder, court, and Foreign Investment Review Board clearance. Nine Entertainment, which owns 60.1% of Domain, plans to distribute a special fully-franked dividend to its shareholders as part of the transaction proceeds. CoStar, which already holds a 16.9% stake in Domain, views the deal as an opportunity to leverage its technology and scale to enhance the Australian property market. The transaction is expected to close in the third quarter of 2025 and marks a significant shift in ownership of Australia's second-largest real estate marketplace to a US company. Both parties emphasize the strategic value and strong fundamentals of Domain, anticipating strengthened market positioning with CoStar's backing.