REA Group Eyes $5.8 Billion Takeover of UK Property Portal Rightmove

REA Group Ltd., owned by News Corp., is contemplating a $5.8 billion takeover of UK property portal Rightmove Plc. This potential deal, which would involve cash and shares, aims to create a major global player in the digital real estate market. While REA hasn`t formally engaged with Rightmove yet, the Australian company acknowledges the potential for shareholder value creation. However, concerns about REA needing to issue stock to finance the deal caused a dip in its share price. REA has until September 30th to announce a firm decision on the potential bid. This situation highlights the importance of scale in the online property market, but also raises concerns about Australian companies` history with large international acquisitions.