That depends. Right now Rightmove is not overpriced,unlike REA. This may be why they are looking at it.
These types of businesses are winner take most so it is vital to be number 1 and Rightmove are clear No 1 in the UK.
Nasdaq listed CoStar has purchased the UK's no 2 "Onthemarket" and this has some investors worried, which has put pressure on the Rightmove share price.
It obviously depends how the Rightmove price reacts to this announcement.
Ann: Statement regarding potential acquisition, page-16
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Last
$212.36 |
Change
-0.890(0.42%) |
Mkt cap ! $28.05B | |||
| Open | High | Low | Value | Volume |
| $213.26 | $213.78 | $211.10 | $18.90M | 89.04K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 638 | $211.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $212.46 | 13 | 1 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| REA (ASX) Chart |