Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Property»Domain a takeover target as US property giant pounces
    Property

    Domain a takeover target as US property giant pounces

    February 20, 20252 Mins Read


    Nine, which will ultimately determine the fate of the bid, offered a cautious acknowledgement of the CoStar proposal.

    “Domain is of strategic importance to Nine’s media ecosystem and our long-term growth strategy. Nine will consider the proposal with a focus on the best interests of Nine shareholders,” a spokesperson said.

    The news of CoStar’s share raid was first reported in the Financial Review’s Street Talk section, which noted that Macquarie Capital had bought shares on behalf of the US company at $4.20 a share.

    A potential sale would mark a significant shake-up of the local real estate classifieds market, which has largely been dominated by the News Corp-owned REA Group, with Domain coming in a distant second.

    CoStar’s interest also offers Nine an opportunity to test the waters on whether it’s worth rebalancing its portfolio of assets, which includes publishing, broadcast, streaming and radio businesses.

    In January, acting Nine chief executive Matt Stanton announced a restructure that included a new marketplaces division, led by chief digital officer Alex Parsons, aimed at getting better returns from Domain and Drive.

    “The creation of a marketplaces division will provide greater focus on Domain and Drive, ensuring we capitalise on value-creation opportunities across the group,” Stanton said at the time.

    CoStar owns a number of real estate platforms around the globe.

    CoStar owns a number of real estate platforms around the globe. Credit: Bloomberg

    Domain is just the latest target for an acquisitive CoStar which acquired UK portal OnTheMarket in 2023 for £100 million ($198 million), and is about to buy 3D mapping group Matterport for $US1.6 billion ($2.5 billion) next month.

    E&P Capital said a successful offer at this price would provide a bonanza for Domain’s main shareholder Nine, which would receive more than $1.5 billion in cash from the deal. It would also boost Nine’s market value.

    Loading

    “Assuming we valued Domain at $4.20 a share (up from $3 currently), our valuation for Nine would increase to $1.60 a share, up from $1.30 currently,” E&P’s Entcho Raykovski said.

    Domain lost its chief executive, Jason Pellegrino, in October and is yet to appoint a permanent replacement. Earlier this month, Domain said board member and former REA boss Greg Ellis would serve as interim chief executive.

    The takeover target this month posted a 7.4 per cent jump in revenue to $217.2 million for the first half of fiscal 2025, just short of analysts’ expectation of $220.5 million. Core earnings for the period landed at a better-than-expected $77.8 million.

    With Clancy Yeates



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Four quick and easy DIY tricks to boost your property value by nearly £30k

    Property

    2 Middle TN cities ranked among 15 best real estate markets in US: WalletHub

    Property

    Property expert reveals the everyday item that could reduce your home’s value by £85,000

    Property

    Criminals funnelling dirty money into UK pushing up London property prices

    Property

    Knights expands property team for Cardiff launch

    Property

    Grand Designs ‘saddest ever property’ finally sells – but owner won’t get a penny

    Property
    Leave A Reply Cancel Reply

    Top Picks
    Precious Metal

    Police Investigating Theft of 200 Feet of Copper Cable Cut Off Utility Poles

    Commodities

    Broward demos metal detectors as Miami-Dade Schools doubts their effectiveness – NBC 6 South Florida

    Fintech

    Bpifrance annonce une première souscription dans le fonds monétaire tokenisé Spiko

    Editors Picks

    HAVOK – DOWNSTAIRS AT THE DOME LONDON – Metal Planet Music

    August 25, 2024

    Antler, Kunal Shah-backed EV fintech startup Ohm Daily shuts down after 5-year run

    July 29, 2025

    Capstone Copper propose une augmentation de 600 millions de dollars de son offre de billets de premier rang non garantis -Le 21 mars 2025 à 00:52

    March 20, 2025

    Maseera investit dans l’Égypte pour toucher 50 millions de sous-bancarisés

    April 7, 2025
    What's Hot

    3 Utility Stocks to Buy as Winter Approaches

    October 19, 2024

    Should You Be Worried About Toxic Metal in Tampons?

    July 15, 2024

    Traces of Precious Metals Found in Hawaiian Volcanic Rocks

    May 23, 2025
    Our Picks

    The Digital Yuan is a Disaster

    July 16, 2024

    Sample preparation of environmental samples for trace metal analysis

    August 13, 2024

    Should The Bahamas move away from pegging its dollar solely to the US dollar and consider a basket of currencies or a regional digital currency? | News

    July 7, 2025
    Weekly Top

    Gujarat emerges as India’s copper hub, amid soaring demand from sunrise sectors – Industry News

    August 24, 2025

    Four quick and easy DIY tricks to boost your property value by nearly £30k

    August 24, 2025

    BRAC EPL Investments partners with Paramount Solar to boost renewable energy expansion

    August 24, 2025
    Editor's Pick

    Real Estate Split Corp. annonce une distribution sur les actions de catégorie A pour février 2025, payable le 14 mars 2025 -Le 21 février 2025 à 14:30

    February 21, 2025

    Felix Valentine: The Strategic Steward of The London Art Exchange

    February 20, 2025

    Sony Group Set To Launch Ethereum Layer-2 Blockchain ‘Soneium’ – Here’s What You Should Know – Sony Gr (NYSE:SONY)

    August 23, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.