Australia's Domain jumps on CoStar's $1.7 billion buyout offer

Nine Entertainment Holdings

20/02/2025 23:54

** Shares of property classifieds firm Domain Holdings
 DHG.AX  soar as much as 49.7% to A$4.670, their biggest
intraday pct gain ever
    ** Shares hit highest since mid-February, 2022
    ** U.S. online real estate firm CoStar  CSGP.O  offers to
buy DHG in A$2.65 billion ($1.70 billion) deal
    ** Offer price of A$4.20 per share is at 34.6% premium to
stock's last closing price
    ** DHG says CoStar has already acquired a 16.9% stake in co
    ** Media co Nine Entertainment  NEC.AX , which owns 60% of
DHG, rises as much as 20.5%
    ** Shares of Domain's competitor REA Group  REA.AX  fall up
to 13.3% in its worst intraday drop since March 2020
    ** DHG stock last up 38.1%; up ~70% YTD, including day's
moves

($1 = 1.5608 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))