Rightmove: REA raises its offer for the third time

(CercleFinance.com) - Rightmove lost 2% in London, despite REA Group raising its cash and share offer for a third time, for an implied value of 781 pence per share, valuing the British property listings portal at around 6.
2 billion pounds.

Following an initial offer of 705 pence on September 5, REA raised the offer to 749 pence on September 16, then a second offer of 770 pence on September 23, all of which were consistently rejected by Rightmove's board.

We still believe that the proposed price offers Rightmove shareholders relatively little incentive to sell, being only slightly higher than Auto Trader's valuation with a PER 2025 of 27 times", Panmure Liberum commented.

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