REA Group said, on 22 September 2024, it made a further increased possible cash and share offer for the entire issued and to be issued share capital of Rightmove under which, shareholders of Rightmove would receive for each Rightmove share: 341 pence in cash and 0.0422 new REA shares. This implies a total offer value of 770 pence for each Rightmove share and values Rightmove's entire issued and to be issued ordinary share capital at approximately 6.1 billion pounds. Under the terms of the further improved proposal, Rightmove shareholders would hold approximately 20 percent of the combined group's issued share capital following completion of the proposed transaction.
REA's initial non-binding indicative proposal, made on 5 September 2024, was at animplied total offer value of 705 pence for each Rightmove share. On 16 September, REA made a revised non-binding indicative proposal to the Board of Rightmove regarding a possible cash and share offer for the entire issued and to be issued share capital of Rightmove at an implied total offer value of 749 pence for each Rightmove share. The Improved Proposal was rejected by the Board of Rightmove on 18 September.
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