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Newsflash: Rightmove has said it will “carefully consider” the new, inproved, takeover offer from REA Group, and respond “in due course”.
In a statement to the City, Rightmove confirms it has received a third proposal from REA, which it dubs “unsolicited, non-binding and highly conditional”.
“Rightmove is an exceptional company with a very clear strategy, a consistent track record of delivery and a strong management team. The Board is confident in the Company’s short and long term prospects, and sees a long runway for continued shareholder value creation.
“Based on the implied value and structure of REA’s first and second indicative non-binding proposals, we considered these proposals to be uncertain, highly opportunistic and unattractive. Accordingly, the Board unanimously rejected them.
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