Industry executives told The Neg that they understood Australian company REA Group would do “whatever it takes” to acquire Rightmove, and that a hostile takeover of the portal was “not a possibility” as a result. is very high.”
The comments, which were made regarding understanding anonymity, come after a busy week for the two portal giants, during which REA Group asked Rightmove to “engage” on a proposed takeover of Litemove's shares. Multiple attempts were made to persuade him. 
This includes the latest share price, which is a 45% premium over Rightmove's average share price over the past 12 months.
On Friday, REA Group made the offer, the fourth in recent weeks, to Rightmove's board of directors regarding a “possible cash and stock offer for all outstanding and forthcoming shares.” It was a non-binding “indicative proposal.” (Portal) Share Capital”.
refused
“Although the Rightmove Board has refused to meet with us, we have enjoyed the opportunity to connect with Rightmove shareholders and share our vision for a number one company combination. It’s a digital property business,” said Owen Wilson, CEO of REA Group.
“We continue to see the potential to strengthen Rightmove and accelerate its growth. This is an exciting opportunity to create technology leaders.”
In response to this fourth proposal, Rightmove released a statement saying: “As we have done throughout this process, the Board will consider (this) Updated Proposal with its financial advisors, during which time shareholders are urged to take no action.” ”
