REA ends pursuit of acquiring Rightmove after numerous unsuccessful offers.

REA ends pursuit of acquiring Rightmove after numerous unsuccessful offers.
REA ends pursuit of acquiring Rightmove after numerous unsuccessful offers.

REA Group, an Australian property firm owned by Rupert Murdoch, announced on Monday that it would stop trying to acquire Rightmove, a U.K. property portal, after the latter rejected its fourth offer proposal.

The stock price of Rightmove dropped by 8.8% after the announcement.

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by April Roach

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