Rightmove formally rejects £5.6bn takeover proposal from Rupert Murdoch-backed REA

This morning, Rightmove announced that it had formally rejected a £5.6bn takeover bid from Rupert Murdoch-owned property company REA group on 2 September. The property portal confirmed it had received an “unsolicited, non-binding and highly conditional proposal” from REA at 698p, which represented a a premium of 26 per cent to Rightmove’s share price on [...]