REA Group Abandons Takeover Bid for Britain's Rightmove

Australian property listing firm REA Group has ended its pursuit of Britain's Rightmove, a leading real estate portal, after facing multiple rejections.

Real EstateProperty ListingsRea GroupRightmoveTakeover BidReal EstateOct 01, 2024

REA Group Abandons Takeover Bid for Britain's Rightmove

Real Estate:REA Group, a leading Australian property listing company, has announced that it will not be making a formal offer to acquire Rightmove, a prominent real estate portal in Britain. This decision comes after Rightmove's board rejected multiple approaches from REA Group. REA Group's decision to walk away from the deal was made ahead of a 1600 GMT deadline, which marked the end of the timeframe for REA Group to make a formal offer for Rightmove. REA Group is a multinational digital advertising company that specializes in property listings. The company was founded in 1995 and is headquartered in Melbourne, Australia. REA Group operates in several countries, including Australia, the United Kingdom, and Asia. Rightmove, on the other hand, is a British real estate portal that was founded in 2000. The company is headquartered in London and is one of the leading property listing websites in the UK. REA Group is a leading digital advertising company that specializes in property listings. The company's mission is to provide innovative solutions for the real estate industry, enabling agents and property owners to reach a wider audience. Rightmove is a UK-based real estate portal that provides a platform for property owners and agents to list their properties. The company's mission is to provide a comprehensive and user-friendly platform for property seekers to find their dream homes. Keywords Tags real estate, property listings, REA Group, Rightmove, takeover bid FAQs Q Why did REA Group abandon its takeover bid for Rightmove? A REA Group abandoned its takeover bid for Rightmove after facing multiple rejections from Rightmove's board. Q What is REA Group's mission? A REA Group's mission is to provide innovative solutions for the real estate industry, enabling agents and property owners to reach a wider audience. Q What is Rightmove's mission? A Rightmove's mission is to provide a comprehensive and user-friendly platform for property seekers to find their dream homes. Q Where is REA Group headquartered? A REA Group is headquartered in Melbourne, Australia. Q Where is Rightmove headquartered? A Rightmove is headquartered in London, UK.

Frequently Asked Questions

Why did REA Group abandon its takeover bid for Rightmove?

REA Group abandoned its takeover bid for Rightmove after facing multiple rejections from Rightmove's board.

What is REA Group's mission?

REA Group's mission is to provide innovative solutions for the real estate industry, enabling agents and property owners to reach a wider audience.

What is Rightmove's mission?

Rightmove's mission is to provide a comprehensive and user-friendly platform for property seekers to find their dream homes.

Where is REA Group headquartered?

REA Group is headquartered in Melbourne, Australia.

Where is Rightmove headquartered?

Rightmove is headquartered in London, UK.

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