CoStar Group has sweetened its acquisition bid for Australia's Domain Holdings, raising its proposal to A$2.80 billion, or approximately $1.76 billion. This revised offer, presented as a 'best and final' basis, represents A$4.43 per share, a 5.5% premium over its initial proposal of A$4.20.
Domain Holdings has granted CoStar exclusive due diligence access following the improved non-binding indicative proposal. This step is critical for CoStar to conduct a thorough review of Domain's financials and operations before finalizing the acquisition.
The increased offer and due diligence access indicate significant progress in CoStar's efforts to acquire the Australian property classifieds firm. This potential acquisition is a key component of CoStar's strategy to expand its global real estate technology leadership.
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