Trump said his new WH chief of staff likes to ‘stay in the back.’ Randi Kaye explains why he is right
Iranian American human rights activists expresses defiance over Iranian plots to kill her and Trump
South Africa partially reopens border after Mozambique vote sparks concern
Dutch PM to skip climate summit during probe into soccer violence
Fed's Kashkari: Both political parties want inflation lower - Fox News
Here are new guidelines for preventing stroke, the nation's 4th biggest killer
Democracy was a motivating factor both Harris and Trump voters, but for very different reasons
Haul out the holly! Rockefeller Center Christmas Tree arrives in New York City
A Lim Kim has hole-in-one, 2 late birdies to take lead into Lotte Championship finale in Hawaii
(Reuters) - Rupert Murdoch-owned property listings firm REA Group has made an initial takeover offer for Britain's Rightmove, Bloomberg News reported on Tuesday citing people familiar with the matter.
News Corp-backed REA Group had last week announced its interest in buying Rightmove to create a global real estate company. The current market capitalization of Rightmove is about $6.92 billion, making it Britain's largest property portal.
REA has submitted an initial proposal valuing Rightmove at around 700 pence per share, according to the report. The offer would represent a premium of 26% from the closing price on Aug. 30.
Discussions are ongoing and there is no certainty a deal will result, the report added.
Rightmove declined to comment, while REA did not immediately respond to a Reuters request for comment.
REA now has until Sept. 30 to make a formal offer for Rightmove, under the UK's takeover rules.
(Reporting by Adwitiya Srivastava in Bengaluru; Additional reporting by Aaditya Govind Rao; Editing by Krishna Chandra Eluri)
