Introduction: Australia’s REA pleasantens getover propose for Righttransfer to £6.1bn
Good morning, and greet to our rolling coverage of business, the financial tagets and the world economy.
When bidding for property, it’s meaningful not to get no for an answer. Australia’s REA Group is taking this advice gravely, and has fair begined its third propose to buy UK housing portal Righttransfer.
After being rebuffed twice this month, REA has upped its propose aget. It is now proposing to pay around £6.1bn for the UK’s biggest online property portal.
REA’s propose is worth 770p per Righttransfer dispense – set upd as 341p in cash and 0.0422 new REA dispenses
In a statement to the Australia stock taget this morning, Owen Wilson, CEO of REA, insisted the deal made sense, saying:
“We consent that the combination of our world-directing expertise and technology with the enticeive Righttransfer business will originate an betterd experience for agents, buyers and sellers of property.
We inhabit in a world of intensifying competition and this gived transaction would convey together two highly complementary digital property businesses for spendment and increaseth.
Wilson grasped that REA is “repartner disnominateed at the conciseage of joinment by Righttransfer’s Board”.
REA, which is beginantity owned by Rupert Murdoch’s News Corp, made its first approach to Righttransfer on 5 September, when it gived paying 705p per dispense, or £5.6bn. That was rebuffed, with Righttransfer’s board saying it “fundamenhighy” underappreciated the company.
Then on Friday night, news broke that REA had incrrelieved its propose by £300m.
Righttransfer weren’t commenting officipartner on that propose yesterday, but Bloomberg telled that “people understandn with the matter’” shelp it had been decliinsist.
Now, Righttransfer’s board must ponder this third propose.
The company’s dispenses shutd at 674p on Friday night (before news of the second propose broke), which appreciates Righttransfer at £5.32bn.
Also coming up today
Surveys of purchasing regulaters apass the UK, Eurozone and the US will show how beginant economies are faring this month.
And in Liverpool, chancellor Rachel Reeves is foreseeed to promise “a Budget to reoriginate Britain” in her speech to the Labour Party conference today.
The agfinisha
-
9am BST: Purchasing regulaters index (flash reading) for the eurozone in September
-
9.30am BST: Purchasing regulaters index (flash reading) for the UK in September
-
11am BST: CBI industrial trfinishs tell on UK factories
-
2.45pm BST: Purchasing regulaters index (flash reading) for the US in September
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In a statement to the City, Righttransfer validates it has getd a third proposal from REA, which it dubs “unrequested, non-obtaining and highly conditional”.
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Righttransfer says its. board will “nurturefilledy ponder the Incrrelieved Proposal, together with its financial directrs.”
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Righttransfer dispensehelderlyers should get no action in esteem of the Incrrelieved Proposal, it says.
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Andrew Fisher, chair of Righttransfer, reiterates that REA’s first two bids were both decliinsist for being “undeclareive, highly opportunistic and unenticeive”.
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Fisher says:
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“Righttransfer is an exceptional company with a very clear strategy, a reliable track enroll of deinhabitry and a strong regulatement team. The Board is self-promised in the Company’s unreasonableinutive and extfinished term prospects, and sees a extfinished runway for persistd dispensehelderlyer appreciate creation.
n
“Based on the implied appreciate and set up of REA’s first and second indicative non-obtaining proposals, we pondered these proposals to be undeclareive, highly opportunistic and unenticeive. Accordingly, the Board agreedly decliinsist them.
n
“The Board will persist to act on behalf of our dispensehelderlyers and reply to the most recent proposal in due course.”
n
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Righttransfer also points out that the 2% drop in REA’s dispenses today has pulled down the appreciate of its cash and dispense propose, from 770p to 761p [making the offer worth around £6bn].
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Righttransfer has jumped to the top of the elevaters on the FTSE 100 dispense index at the begin of trading, after Rea Group upped its getover propose aget.
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Righttransfer are up 3.8% at 700p.
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That’s still some way anxious of Rea’s new propose, which appreciates Righttransfer at 770p per dispense.
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Spfinishing on health and beauty products is booming despite cost-of-living presdeclareives, a new survey shows.
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The procrastinateedst Barclays Consumer Spfinish data shows health and beauty has been the highest-carry outing categruesome in retail since August 2023.
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Last month, devourr spfinishing on health and beauty rose 7.3% year-on-year, while overall retail spfinishing was up 0.1%.
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Ntimely half of devourrs see such spfinishing as “vital” – a categruesome which typicpartner integrates priority buys such as groceries and childnurture, Barclays says.
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Karen Johnson, head of retail at Barclays, says:
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n
“It’s encouraging to see that overall beauty spfinishing has been in increaseth year-on-year, with August shotriumphg the highest level of increaseth in the past 18 months. Our data shows that social media has shown to percreate a key role in influencing online buys, a further demonstration of the rising commercial beginance of these platcreates.
n
“The health and beauty sector exemplifies continuous increaseth, probable driven by social media, particularly among youthfuler generations. The key to a strong retail model is examining these trfinishs to better comprehfinish future purchasing behaviours.”
n
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Good morning, and greet to our rolling coverage of business, the financial tagets and the world economy.
“,”elementId”:”643e84ee-403d-4cb0-858e-e8cf54cabdda”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
When bidding for property, it’s meaningful not to get no for an answer. Australia’s REA Group is taking this advice gravely, and has fair begined its third propose to buy UK housing portal Righttransfer.
“,”elementId”:”a85d0e07-4727-4828-865e-c2f58c288071″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
After being rebuffed twice this month, REA has upped its propose aget. It is now proposing to pay around £6.1bn for the UK’s biggest online property portal.
“,”elementId”:”1c3070e1-ecdb-48ab-9851-0eb2f78e248b”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
REA’s propose is worth 770p per Righttransfer dispense – set upd as 341p in cash and 0.0422 new REA dispenses
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In a statement to the Australia stock taget this morning, Owen Wilson, CEO of REA, insisted the deal made sense, saying:
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n
“We consent that the combination of our world-directing expertise and technology with the enticeive Righttransfer business will originate an betterd experience for agents, buyers and sellers of property.
n
We inhabit in a world of intensifying competition and this gived transaction would convey together two highly complementary digital property businesses for spendment and increaseth.
n
“,”elementId”:”5991a438-36ac-47dd-85b3-7488a3c18d1a”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Wilson grasped that REA is “repartner disnominateed at the conciseage of joinment by Righttransfer’s Board”.
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REA, which is beginantity owned by Rupert Murdoch’s News Corp, made its first approach to Righttransfer on 5 September, when it gived paying 705p per dispense, or £5.6bn. That was rebuffed, with Righttransfer’s board saying it “fundamenhighy” underappreciated the company.
“,”elementId”:”df24e43c-690f-4a69-8343-ff32e5942266″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Then on Friday night, news broke that REA had incrrelieved its propose by £300m.
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Righttransfer weren’t commenting officipartner on that propose yesterday, but Bloomberg telled that “people understandn with the matter’” shelp it had been decliinsist.
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Now, Righttransfer’s board must ponder this third propose.
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The company’s dispenses shutd at 674p on Friday night (before news of the second propose broke), which appreciates Righttransfer at £5.32bn.
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Also coming up today
“,”elementId”:”c07993ba-e54f-44a8-b2dc-2f29db9c6ca0″},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
Surveys of purchasing regulaters apass the UK, Eurozone and the US will show how beginant economies are faring this month.
“,”elementId”:”72a3ca27-e09c-4808-ae23-3f8aab1b3f2d”},{“_type”:”model.dotcomrfinishering.pageElements.TextBlockElement”,”html”:”
And in Liverpool, chancellor Rachel Reeves is foreseeed to promise “a Budget to reoriginate Britain” in her speech to the Labour Party conference today.
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The agfinisha
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9am BST: Purchasing regulaters index (flash reading) for the eurozone in September
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9.30am BST: Purchasing regulaters index (flash reading) for the UK in September
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11am BST: CBI industrial trfinishs tell on UK factories
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2.45pm BST: Purchasing regulaters index (flash reading) for the US in September
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Key events
Righttransfer: We will nurturefilledy ponder REA’s new propose
Newsflash: Righttransfer has shelp it will “nurturefilledy ponder” the new, inshowd, getover propose from REA Group, and reply “in due course”.
In a statement to the City, Righttransfer validates it has getd a third proposal from REA, which it dubs “unrequested, non-obtaining and highly conditional”.
Righttransfer says its. board will “nurturefilledy ponder the Incrrelieved Proposal, together with its financial directrs.”
Righttransfer dispensehelderlyers should get no action in esteem of the Incrrelieved Proposal, it says.
Andrew Fisher, chair of Righttransfer, reiterates that REA’s first two bids were both decliinsist for being “undeclareive, highly opportunistic and unenticeive”.
Fisher says:
“Righttransfer is an exceptional company with a very clear strategy, a reliable track enroll of deinhabitry and a strong regulatement team. The Board is self-promised in the Company’s unreasonableinutive and extfinished term prospects, and sees a extfinished runway for persistd dispensehelderlyer appreciate creation.
“Based on the implied appreciate and set up of REA’s first and second indicative non-obtaining proposals, we pondered these proposals to be undeclareive, highly opportunistic and unenticeive. Accordingly, the Board agreedly decliinsist them.
“The Board will persist to act on behalf of our dispensehelderlyers and reply to the most recent proposal in due course.”
Righttransfer also points out that the 2% drop in REA’s dispenses today has pulled down the appreciate of its cash and dispense propose, from 770p to 761p [making the offer worth around £6bn].
Righttransfer dispenses jump 4%
Righttransfer has jumped to the top of the elevaters on the FTSE 100 dispense index at the begin of trading, after Rea Group upped its getover propose aget.
Righttransfer are up 3.8% at 700p.
That’s still some way anxious of Rea’s new propose, which appreciates Righttransfer at 770p per dispense.
There’s drama in the rulement bond tagets this morning, where Sri Lanka’s debt is sliding after left-triumphg honestate Anura Kumara Dissanayake won the country’s pdwellntial election.
Dissanayake, seen as marxist-leaning, has capitalised on the anger and frustration that had aelevated adhereing Sri Lanka’s economic crisis.
Having won the vote, he has pledged to get democracy and spotless up unveil life, promising that a “new renaissance will elevate from this dispensed strength and vision”.
But Sri Lanka’s bonds have been hit, on dreads that the nation’s bailout by the International Monetary Fund and debt deals could be dangerened.
Bonds fell around three percentage points, with a security that increasen-ups in 2025 losing 3.3 cents to 49.28 cents.
Health and beauty spfinishing elevates despite cost-of-living squeee
Spfinishing on health and beauty products is booming despite cost-of-living presdeclareives, a new survey shows.
The procrastinateedst Barclays Consumer Spfinish data shows health and beauty has been the highest-carry outing categruesome in retail since August 2023.
Last month, devourr spfinishing on health and beauty rose 7.3% year-on-year, while overall retail spfinishing was up 0.1%.
Ntimely half of devourrs see such spfinishing as “vital” – a categruesome which typicpartner integrates priority buys such as groceries and childnurture, Barclays says.
Karen Johnson, head of retail at Barclays, says:
“It’s encouraging to see that overall beauty spfinishing has been in increaseth year-on-year, with August shotriumphg the highest level of increaseth in the past 18 months. Our data shows that social media has shown to percreate a key role in influencing online buys, a further demonstration of the rising commercial beginance of these platcreates.
“The health and beauty sector exemplifies continuous increaseth, probable driven by social media, particularly among youthfuler generations. The key to a strong retail model is examining these trfinishs to better comprehfinish future purchasing behaviours.”
Elsewhere this morning, clever sensing gentleware company Oxford Metrics has telderly the City that customers are being more pinsolentnt.
Oxford Metrics telderly dispensehelderlyers that it now foresees adfaired pre-tax profts to be materipartner below current taget foreseeations for the financial year.
It elucidateed:
While the Group persists to have a fit pipeline, the trfinish of more extfinished buying cycles has broadened in the second half agetst a strong prior year comparative.
Globpartner, we are seeing customers apass our tagets exercising fantasticer caution and purchasing decisions are taking extfinisheder to finish. A number of opportunities in the pipeline have now shifted into the new financial year.
OMG !!!! Oxford Metrics Warns of Weaker-Than-Expected Resultshttps://t.co/692AVH9FX8#tagetdispense #omg pic.twitter.com/64PQDm3fuk
— DH (@DavidHatton55) September 23, 2024
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#RMV Things watch to be hotting up in the potential getover of Righttransfer by REA
REA’s editd (& third propose) is equivalent to 770p
Made up of 341p + 0.0422 REA dispenses
Rejected by the Board & REA requesting to Righttransfer dispensehelderlyers to put presdeclareive on Board to join 👀 pic.twitter.com/tajD4nHVWs
— Aston Girl (@reb40) September 23, 2024
nn”}}”>
#RMV Things watch to be hotting up in the potential getover of Righttransfer by REA
REA’s editd (& third propose) is equivalent to 770p
Made up of 341p + 0.0422 REA dispenses
Rejected by the Board & REA requesting to Righttransfer dispensehelderlyers to put presdeclareive on Board to join 👀 pic.twitter.com/tajD4nHVWs
— Aston Girl (@reb40) September 23, 2024
Shares in REA Group have dropped by 2.1% today on the Australian stock taget, after it upped its propose for Righttransfer aget.
Having lifted their getover propose aget, Rea also disputes Righttransfer’s claim that its approach is “wholly opportunistic”.
They telderly spendors today:
Righttransfer’s dispense price has conciseageed any persisted upward momentum for two years, with a last 24 months VWAP [volume-weighted average price]] of 540 pence, a last 12 months VWAP of 540 pence and an undisturbed dispense price on 30 August 2024 of 556 pence, despite being aided by its ongoing dispense buyback programme and editd strategy proclaimd at last year’s Capital Markets Day.
This chart shows Righttransfer’s dispenses jumped at the begin of this month, when REA’s innovative approach was proclaimd:
Third time fortunate? The Rea group go back with an incrrelieved propose of £6.1bn for Righttransfer in the hope their board will join. The property portal will be directed there is more in the tank, the Rea Group fair hope this is enough to originate them ‘get out of bed.’ https://t.co/UFAW7iaeaZ
— Emma Fildes (@emmafildes) September 23, 2024
nn”}}”>
Third time fortunate? The Rea group go back with an incrrelieved propose of £6.1bn for Righttransfer in the hope their board will join. The property portal will be directed there is more in the tank, the Rea Group fair hope this is enough to originate them ‘get out of bed.’ https://t.co/UFAW7iaeaZ
— Emma Fildes (@emmafildes) September 23, 2024
Introduction: Australia’s REA pleasantens getover propose for Righttransfer to £6.1bn
Good morning, and greet to our rolling coverage of business, the financial tagets and the world economy.
When bidding for property, it’s meaningful not to get no for an answer. Australia’s REA Group is taking this advice gravely, and has fair begined its third propose to buy UK housing portal Righttransfer.
After being rebuffed twice this month, REA has upped its propose aget. It is now proposing to pay around £6.1bn for the UK’s biggest online property portal.
REA’s propose is worth 770p per Righttransfer dispense – set upd as 341p in cash and 0.0422 new REA dispenses
In a statement to the Australia stock taget this morning, Owen Wilson, CEO of REA, insisted the deal made sense, saying:
“We consent that the combination of our world-directing expertise and technology with the enticeive Righttransfer business will originate an betterd experience for agents, buyers and sellers of property.
We inhabit in a world of intensifying competition and this gived transaction would convey together two highly complementary digital property businesses for spendment and increaseth.
Wilson grasped that REA is “repartner disnominateed at the conciseage of joinment by Righttransfer’s Board”.
REA, which is beginantity owned by Rupert Murdoch’s News Corp, made its first approach to Righttransfer on 5 September, when it gived paying 705p per dispense, or £5.6bn. That was rebuffed, with Righttransfer’s board saying it “fundamenhighy” underappreciated the company.
Then on Friday night, news broke that REA had incrrelieved its propose by £300m.
Righttransfer weren’t commenting officipartner on that propose yesterday, but Bloomberg telled that “people understandn with the matter’” shelp it had been decliinsist.
Now, Righttransfer’s board must ponder this third propose.
The company’s dispenses shutd at 674p on Friday night (before news of the second propose broke), which appreciates Righttransfer at £5.32bn.
Also coming up today
Surveys of purchasing regulaters apass the UK, Eurozone and the US will show how beginant economies are faring this month.
And in Liverpool, chancellor Rachel Reeves is foreseeed to promise “a Budget to reoriginate Britain” in her speech to the Labour Party conference today.
The agfinisha
-
9am BST: Purchasing regulaters index (flash reading) for the eurozone in September
-
9.30am BST: Purchasing regulaters index (flash reading) for the UK in September
-
11am BST: CBI industrial trfinishs tell on UK factories
-
2.45pm BST: Purchasing regulaters index (flash reading) for the US in September
/cdn.vox-cdn.com/uploads/chorus_asset/file/25666469/nes3.jpg?w=870&resize=870,570&ssl=1 "You can insert wireless deal withler help to the NES thraw its unengaged expansion port")
