{"id":147234,"date":"2024-09-30T15:21:00","date_gmt":"2024-09-30T08:21:00","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-rise-at-fastest-pace-in-two-years-rightmove-rejects-fourth-takeover-offer-from-rea-group-business-live\/"},"modified":"2024-09-30T15:31:45","modified_gmt":"2024-09-30T08:31:45","slug":"uk-house-prices-rise-at-fastest-pace-in-two-years-rightmove-rejects-fourth-takeover-offer-from-rea-group-business-live","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-rise-at-fastest-pace-in-two-years-rightmove-rejects-fourth-takeover-offer-from-rea-group-business-live\/","title":{"rendered":"UK house prices rise at fastest pace in two years; Rightmove rejects fourth takeover offer from Rea Group \u2013 business live"},"content":{"rendered":"


\nRolling coverage of the latest economic and financial newsNumber of UK estate agents going bust rises almost a third in one yearREA Group now has eight and a half hours to decide whether to make another offer for Rightmove, in the hope of winning the board\u2019s support, before hitting the 5pm \u2018put up or shut up\u2019 deadline.Rightmove\u2019s chair, Andrew Fisher, says the company has been through a \u201cvery disruptive\u201d period since REA\u2019s first offer, early in September:\u201cWe respect REA and the success they have achieved in their domestic market. However, we remain confident in the standalone future of Rightmove. Rightmove has been the leading operator in the UK for over 20 years, and it has differentiated market presence, branding and technology, and very significant opportunities for future growth.\u201cThe last few weeks have been very disruptive, as well as unsettling for our colleagues. To the extent REA wants to put forward a further proposal, I urge them to submit a best and final proposal ahead of today\u2019s 5pm PUSU deadline such that we can bring certainty to this process.The Rightmove and REA teams have known one another for many years, and have had numerous interactions, including discussions around strategy and best practice as recently as June.Rightmove has taken every phone call that REA has made since its interest was first made public, with a level of engagement which in Rightmove\u2019s view is customary and appropriate in the context of an unsolicited and unilateral series of approaches, made to a UK listed company, where the possible offeror is taking an incremental and iterative approach to price discovery. Continue reading…
\n
\nSource : theguardian.com
\nRead more…UK house prices rise at fastest pace in two years; Rightmove rejects fourth takeover offer from Rea Group \u2013 business live<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rolling coverage of the latest economic and financial newsNumber of UK estate agents going bust...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-147234","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-CiK","jetpack-related-posts":[{"id":147242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rupert-murdochs-property-group-rea-ends-chase-to-buy-rightmove-after-multiple-rejected-offers\/","url_meta":{"origin":147234,"position":0},"title":"Rupert Murdoch\u2019s property group REA ends chase to buy Rightmove after multiple rejected offers","date":"September 30, 2024","format":false,"excerpt":"\r Rupert Murdoch's Australian property listing firm REA Group\u00a0said Monday it would no longer seek to buy UK property portal Rightmove.\r \r Source : cnbc.com\r Read more...Rupert Murdoch\u2019s property group REA ends chase to buy Rightmove after multiple rejected offers","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146947,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-are-the-murdochs-trying-to-buy-uk-property-site-rightmove\/","url_meta":{"origin":147234,"position":1},"title":"Why are the Murdochs trying to buy UK property site Rightmove?","date":"September 7, 2024","format":false,"excerpt":"\r Eldest son Lachlan may want to repay Rupert for bid to hand him full control by protecting UK newspaper empireGetting into property is considered to be Lachlan Murdoch\u2019s shrewdest and most profitable contribution to building the family empire.Shortly after the turn of the century, Rupert Murdoch\u2019s eldest son persuaded\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rupert-murdochs-rea-group-ups-offer-for-rightmove-to-5-9bn\/","url_meta":{"origin":147234,"position":2},"title":"Rupert Murdoch\u2019s REA group ups offer for Rightmove to \u00a35.9bn","date":"September 21, 2024","format":false,"excerpt":"\r About \u00a3300m added to deal for UK\u2019s biggest online real-estate portal after first proposal unanimously rejected The Rupert Murdoch-controlled Australian property group REA has upped its proposed offer for Rightmove, the UK\u2019s biggest online property portal, to \u00a35.9bn.REA, in which Murdoch\u2019s News Corporation has a 61% stake, has sweetened\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rupert-murdoch-owned-property-company-rea-in-talks-with-rightmove\/","url_meta":{"origin":147234,"position":3},"title":"Rupert Murdoch-owned property company REA in talks with Rightmove","date":"September 11, 2024","format":false,"excerpt":"\r The proposal, which does not constitute a formal offer, reportedly values the real-estate portal at more than \u00a35.5bnREA, the Australian property company majority-owned by Rupert Murdoch\u2019s News Corp, has started talks with Rightmove, the UK\u2019s biggest online real-estate portal.The initial proposal, which does not constitute a formal offer, is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146889,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rupert-murdochs-property-group-considers-bid-for-uks-rightmove-sending-shares-21-higher\/","url_meta":{"origin":147234,"position":4},"title":"Rupert Murdoch's property group considers bid for UK's Rightmove, sending shares 21% higher","date":"September 2, 2024","format":false,"excerpt":"\r Rupert Murdoch-owned REA Group said Monday it is contemplating a takeover offer for U.K. property portal Rightmove in a bid to create a global digital real estate business.\r \r Source : cnbc.com\r Read more...Rupert Murdoch's property group considers bid for UK's Rightmove, sending shares 21% higher","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":128645,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-house-prices-drop-for-first-time-this-year-says-rightmove\/","url_meta":{"origin":147234,"position":5},"title":"UK house prices drop for first time this year, says Rightmove","date":"August 15, 2022","format":false,"excerpt":"\r Experts blame 1.3% average fall on summer distractions rather than economic factorsUK house prices have fallen for the first time this year but experts say summer distractions rather than deteriorating economic conditions are to blame.Figures released by Rightmove show that the average price of a UK property dropped to\u2026","rel":"","context":"In "Property 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