The bidder already owns 16.9% of the target
On 21 February, Friday, Nasdaq-listed CoStar Group Inc, a provider of real estate intelligence and analysis that Andy Florance created in 1986, launches a 2.7 billion AUS$ worth delisting offer on Australia’s Domain Holdings, the Australian Stock Exchange listed owner of domain.com.au, commercialrealestate.com.au and allhomes.com.au (see here the press release).
CoStar launched a 4,20 Australian Dollars per share cash offer, for a 35% reward on the target’s stock price at the closure of trading of 20 February, Thursday. Domain’s majority shareholder Nine Entertainment Co. Holdings Limited must give its approval for the offer. Between 20 and 21 February, Thursday and Friday, CoStar acquired a 16.96% of the target at 4,20 Australian Dollars per share (see here the statement). Domain’s board of directors is currently appraising the bidder proposal.
CoStar recently announced the acquisition of AG-Analytics, an US provider of data for the agricultural real estate sector. The buyer will integrate the target with the platform Land.com and extend its activity to the agricultural assets (see here the press release). In December 2023, Costar launched a 99 million GBPs delisting offer on London-listd OnTheMarket Plc, a real estate portal (see here the press release). Arlington’s, Virginia, CoStar said that in 3Q24 its domain attracted a median amount ofmore than 163 million unique users per month.
