REA's bid for Rightmove has increased to £5.9 billion, as they aim to secure the UK's leading online property portal after an initial proposal was rejected.
The initial offer was seen as fundamentally undervaluing Rightmove, which triggered a substantial increase in market value since the takeover interest was made public.
Analysts described Rightmove as one of the cheapest publicly listed classified businesses in Europe, particularly in light of the ongoing recovery in the UK property market.
With the notable rise in Rightmove’s shares following REA's interest, the situation illustrates the competitive landscape of the UK online property market amid merger activities.
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