The company said its subsidiary REA Group Ltd made a fourth non-binding proposal to the Rightmove plc board on September 27, 2024, a cash and share offer, and that the three prior proposals were all rejected.

8-KRegulation FD DisclosureFiled Sep 27, 2024Period of report Sep 27, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

The company said its subsidiary REA Group Ltd made a fourth non-binding proposal to the Rightmove plc board on September 27, 2024, a cash and share offer, and that the three prior proposals were all rejected.
News Corp said REA proposed 346 pence in cash and 0.0417 new REA shares per Rightmove share, plus a 6 pence special dividend in lieu of the final dividend for the year ending December 31, 2024.
The company said the implied total value of the proposal, based on REA's A$200.00 closing share price, is 781 pence per Rightmove share, or about £6.2 billion, a 41% premium to Rightmove's share price of 556 pence on August 30, 2024.
News Corp said REA asked for an extension of the September 30, 2024 deadline and urged the Rightmove board to engage in talks. It also said REA will offer a mix and match facility that lets shareholders choose the proportions of cash and new REA shares they receive.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

REA Group submits fourth non-binding proposal to Rightmove board

The company said its subsidiary REA Group Ltd made a fourth non-binding proposal to the Rightmove plc board on September 27, 2024, a cash and share offer, and that the three prior proposals were all rejected.

Source · Based on the filing body and exhibits

Fourth proposal per-share value and special dividend

News Corp said REA proposed 346 pence in cash and 0.0417 new REA shares per Rightmove share, plus a 6 pence special dividend in lieu of the final dividend for the year ending December 31, 2024.

Source · Based on the filing body and exhibits

Implied value and premium of the proposal

The company said the implied total value of the proposal, based on REA's A$200.00 closing share price, is 781 pence per Rightmove share, or about £6.2 billion, a 41% premium to Rightmove's share price of 556 pence on August 30, 2024.

Source · Based on the filing body and exhibits

Deadline extension request and mix and match facility

News Corp said REA asked for an extension of the September 30, 2024 deadline and urged the Rightmove board to engage in talks. It also said REA will offer a mix and match facility that lets shareholders choose the proportions of cash and new REA shares they receive.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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