Rightmove plc (RMV.L) said its Board unanimously rejected the Increased Proposal from REA Group on 24 September 2024. The Board concluded that the Increased Proposal continues to be unattractive and materially undervalues the company and its future prospects. The Increased Proposal was 341 pence in cash and 0.0422 new REA shares for each Rightmove ordinary share.
Separately, REA stated that it remains ready to engage immediately with the Board of Directors of Rightmove. Also, REA urged Rightmove shareholders to encourage the Board of Directors of Rightmove to engage in constructive discussions with REA to work towards a recommended transaction.
For comments and feedback: editorial@rttnews.com