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
$200.00 |
Change
1.690(0.85%) |
Mkt cap ! $26.42B | |||
| Open | High | Low | Value | Volume |
| $198.96 | $200.00 | $197.38 | $25.57M | 128.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2080 | $200.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $200.39 | 1200 | 1 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| REA (ASX) Chart |