Interesting game of chess playing out here. The market doesn’t like it from the REA perspective- fear of bidding too much hurting the sp. Rightmove predictably rejecting the offers so far.
Rightmove need to be careful not to overplay their hand though - these are generous offers on what has been a plodder of a stock. REA might end up walking.
A good example of this was the KKR bid for Ramsay Health at $A88 a couple of years ago - rejected by the board as low ball - deal fell over - Ramsay now trading at $A40 - dickheads.
Ann: Update regarding Rightmove plc, page-9
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Last
$223.81 |
Change
1.690(0.76%) |
Mkt cap ! $29.56B | |||
| Open | High | Low | Value | Volume |
| $222.56 | $223.82 | $220.17 | $23.25M | 104.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4 | $222.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $223.85 | 36 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| REA (ASX) Chart |