Nine Entertainment, the largest shareholder of Australia's Domain Holdings with a 60% stake, confirmed it is in talks to sell its shares as part of CoStar Group's A$2.65 billion ($1.7 billion) takeover proposal. This development is crucial for the acquisition to proceed, as the bid requires at least 75% shareholder support.
The news of these talks led to a 1.84% rise in Domain shares in early trading on Friday, March 21, 2025, indicating investor optimism regarding the potential completion of the deal. CoStar's unsolicited bid aims to expand its international footprint in the online real estate classifieds market.
CoStar Group's pursuit of Domain Holdings underscores its strategy to diversify its global real estate technology leadership. The successful acquisition would significantly enhance CoStar's presence in the Australian property market.
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