Rightmove rejects £5.6bn takeover bid from Rupert Murdoch’s REA

Rightmove has rejected a £5.6 billion takeover offer from Rupert Murdoch’s REA Group, stating it undervalues the company. Despite a 20% share price increase following news of the offer, REA has until September 30 to make a firm bid. Shareholders are unlikely to accept a takeover without a substantial offer, especially with the improving UK property market outlook benefiting Rightmove’s unique position.

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