Rightmove Seeks Advisers Amid Potential Takeover by REA Group

Rightmove, the UK`s largest property portal, is preparing for a potential takeover bid from Australia`s REA Group. Rightmove has engaged UBS and Morgan Stanley to advise on its response to REA`s interest, while REA is working with Deutsche Bank. Although Rightmove`s share price surged upon news of the potential offer, no formal bid has been made. REA has until September 30th to declare its intentions.