Australian property firm REA Group said on Monday it is considering acquiring London-listed rival Rightmove (OTC:) through a potential cash and share offer.
REA Group, which is majority-owned by News Corp (NASDAQ:), said it had not yet contacted or held any discussions with Rightmove about a potential offer.
Rightmove, Britain’s largest property portal, had a market value of £4.36 billion ($5.73 billion) at Friday’s close.
Shares in Melbourne-based REA Group, in which the Murdoch family owns more than 61%, were down 5.9% at A$206.01 by 0053 GMT.
Rightmove did not immediately respond to Reuters’ request for comment.
“There can be no certainty that an offer will be made,” the Australian company said in a statement.
REA Group must now either make a firm offer to buy Rightmove or withdraw by September 30, under UK takeover rules.
(1 dollar = 0.7613 pounds)
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