Britain’s Rightmove rejects $7.3 billion takeover offer from Murdoch’s REA Group
By Scott Murdoch and Aaditya GovindRao SYDNEY (Reuters) -Britain’s largest real estate portal Rightmove rejected the 5.6 billion pound ($7.32 billion) cash-and-stock takeover proposal from Australia’s REA Group, it said on Wednesday, citing that the bid undervalued its prospects. “The board carefully considered the proposal… and concluded that it was wholly opportunistic and fundamentally undervalued …
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