Rightmove suitor walks away after sweetened offer is rejected

Rightmove’s Australian suitor has walked away from takeover talks after having its sweetened £6.2 billion offer rejected.
REA Group confirmed on Monday afternoon, hours before a “put up or shut up” deadline, that it was withdrawing its interest in buying the property search website.
Rightmove shares closed down 51¼p, or 7.7 per cent, at 617½p.
REA’s fourth indicative offer, made last Friday, comprised 346p in cash plus 0.0417 REA shares and a 6p dividend for each Rightmove share. In total, it worked out at around 780p per share, 10p more than REA had previously said it was prepared to pay and valuing Rightmove at £6.2 billion.
Rightmove’s board considered the proposal over the weekend and concluded on Monday morning that REA’s offer “remains unattractive and