REA Abandons Rightmove Pursuit After Latest Rejection.

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    • Subject Terms:
      AUSTRALIA
    • Abstract:
      Australian real estate advertiser REA Group has abandoned its pursuit of UK peer Rightmove after the latter rejected a sweetened $8.29 billion offer. REA Group, which is 61% owned by News Corp, said it does not intend to make another offer for Rightmove but remains committed to its capital allocation framework and disciplined approach to mergers and acquisitions. Rightmove rejected REA Group's fourth proposal, stating that it remained unattractive and undervalued the company. [Extracted from the article]
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