On Monday, the REA Group of real estate websites declared that it had increased its bid for Rightmove to £6.1 billion.
Previous attempts to purchase Rightmove, which is listed on the London Stock Exchange, have proved unsuccessful. A bid that valued the company at £5.6 billion was rejected because it was deemed to be too low.
The Sun and The Times are newspapers published in the United Kingdom. News Corp., which is still mostly owned by Mr. Murdoch, also owns companies and periodicals across the globe, including Harper Collins Publishers, The Wall Street Journal, New York Post, and The Australian.
The conglomerate’s intention to expand into real estate is indicated by its persistent efforts to buy Rightmove.
News Corp is the owner of Realtor.com, an online marketplace for home rentals and purchases, in addition to the REA Group.
By September 30th, REA was required by UK regulations controlling corporate takeovers to notify the market of their firm intention to bid on Rightmove.
According to the most recent offer, existing Rightmove shareholders would hold 20% of the business.
Following the announcement of the most recent bid, the price of Rightmove’s shares increased by 2.7%.
