REA Group Provides Update Regarding Rightmove
Sept 11 (Reuters) -REA Group Ltd REA.AX:
DEAL FOR ENTERPRISE VALUE MULTIPLE OF APPROXIMATELY 20.5X RIGHTMOVE’S EBITDA FOR THE TWELVE MONTHS £272 MILLION
UPDATE REGARDING RIGHTMOVE PLC
IT MADE A NON-BINDING INDICATIVE PROPOSAL TO BOARD OF DIRECTORS OF RIGHTMOVE REGARDING A POSSIBLE CASH AND SHARE OFFER
MADE A NON-BINDING INDICATIVE PROPOSAL TO BOARD OF DIRECTORS OF RIGHTMOVE REGARDING A POSSIBLE CASH AND SHARE OFFER
ORDINARY SHAREHOLDERS OF RIGHTMOVE WOULD RECEIVE FOR EACH RIGHTMOVE SHARE: 305 PENCE IN CASH AND 0.0381 NEW REA SHARES
REA WAS INFORMED ON 10 SEPTEMBER 2024 THAT RIGHTMOVE BOARD REJECTED PROPOSAL.
RIGHTMOVE'S ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL AT APPROXIMATELY £5.6 BILLION
INTENDS TO APPLY FOR A SECONDARY LISTING OF ALL OF ITS ORDINARY SHARES IN LONDON
Further company coverage: REA.AX
Reporting by Archishma Iyer
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