Rupert Murdoch’s £6.1 billion takeover offer seen as ‘unattractive’ by UK Property platform Rightmove
Rightmove has rejected a third bid from Rupert Murdoch’s REA Group and said the offer was “unattractive” and undervalues the UK’s largest online property portal.
On Wednesday Rightmove confirmed that its board had “unanimously rejected” the non-binding cash-and-shares offer put forward on Monday, which valued the company at £6.1bn.
It is the third offer REA has made this month. Since the initial £5.6bn bid, disclosed on 5 September, the business has increased its offers, with the current one about £200m higher than the £5.9bn put forward on 20 September.
REA said its plan is to create a property business with "strong margins and significant cash generation' that holds the number one position in both the UK and Australia."
It added that buying Rightmove would
"enhance the UK property experience for buyers, sellers, and renters, positively contributing to the property market ecosystem."
Following the rejection from Rightmove's board, REA has until 5pm on 30 September to bid again or accept it was rejected.
The news comes as hedge fund Starboard Value confirmed it filed a shareholder resolution to reduce Mr Murdoch's power at News Corp.
The hedge fund wants to abolish the structure which currently gives Mr Murdoch 40% of News Corp's voting stock even though he only owns an equity stake of about 14%.
Mr Murdoch stepped down as Fox and News Corp chairman in favour of his son Lachlan in 2023.
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This is a fascinating case study in corporate valuation disagreement — Rightmove's board rejecting three successive bids in a single month sends a very clear message about how confidently management views the platform's standalone long-term value. The cash-and-shares structure likely gave the board additional pause, exposing shareholders to REA Group performance risks. As a business and finance student, I used Reflective Writing Support resources while reflecting on contested acquisition strategy for a module journal, and this Rightmove case became my strongest real-world example of board-level valuation confidence under sustained takeover pressure.
This is a fascinating case study in corporate valuation disagreement — Rightmove's board rejecting three successive bids in a single month, each higher than the last, sends a very clear message about how confidently management views the platform's standalone long-term value. The fact that the offer was structured as a cash-and-shares deal rather than pure cash also likely gave the board pause, since accepting REA Group shares would expose Rightmove shareholders to the performance and governance risks of a News Corp-adjacent entity. As a business and finance student currently researching hostile and contested acquisition attempts in the UK digital property sector, I came across Statement Of Purpose Writing Service resources while preparing my postgraduate application focused on M&A strategy and shareholder…
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I appreciate the insight into how Rupert Murdoch’s attempt to acquire Rightmove was rejected for being “unattractive” and undervaluing the company. It reminds me how important transparency, realistic evaluation, and true value are — whether in company takeovers or in prop-trading platforms.
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