Latest news with #DomainHoldings
Reuters
09-05-2025
- Business
- Reuters
US real estate firm CoStar to buy Australia's Domain in a $1.9 billion deal
May 9 (Reuters) - Australia's Domain Holdings ( opens new tab said on Friday U.S. online real estate firm CoStar (CSGP.O), opens new tab would acquire the property classifieds company for an implied enterprise value of A$3 billion ($1.92 billion). Under the deal, CoStar and its unit, which already owns a 16.9% stake in Domain, will acquire the remaining shares in the company at A$4.43 apiece, a 4.2% premium to the stock's last closing price on Thursday. Domain may also decide to declare a special dividend of up to A$0.10 per share, which will reduce the deal value by that amount, it said. The deal marks CoStar's first foray into the Australian market and could transform the landscape in a sector where listing volumes have sagged as high living costs slowed the country's hot housing sector but are improving with interest rates coming down. Domain's board has unanimously recommended that shareholders vote in favour of the proposed deal, which is also subject to Foreign Investment Review Board (FIRB) approval. Domain's 60% owner, Nine Entertainment ( opens new tab, said in a separate statement that the deal "appropriately reflects the strategic value" of its interest in Domain and it intends to vote in favour of the deal in absence of a superior offer. ($1 = 1.5640 Australian dollars)
Bloomberg
09-05-2025
- Business
- Bloomberg
CoStar Agrees to Buy Real Estate Portal Domain for $1.92 Billion
CoStar Group Inc. has entered a binding deal to buy Domain Holdings Australia for A$4.43 per share, valuing the company at A$3 billion ($1.92 billion), Domain said in a statement. The price per share is 42% higher than Domain's stock price before the first approach was disclosed on Feb 21.
Reuters
30-03-2025
- Business
- Reuters
Australia's Domain grants due diligence access to CoStar for $1.8 billion buyout bid
March 31 (Reuters) - Australia's Domain Holdings ( opens new tab said on Monday it has granted CoStar (CSGP.O), opens new tab exclusive due diligence access for the U.S. property data group's revised buyout proposal which values the real estate classifieds firm at A$2.80 billion ($1.76 billion). CoStar sweetened its offer to A$4.43 per share on a "best and final" basis last week, a 5.5% premium to its initial proposal of A$4.20. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. CoStar will be granted access to a virtual data room, Domain said in a statement, adding the exclusivity period will expire in four weeks unless extended by a further two weeks. The target company confirms the intentions of its board members to unanimously recommend voting in favour of the proposal.
