Domain Holdings Australia Limited (ASX:DHG) Receives Acquisition Proposal from CoStar Group
Acquisition Proposal
Domain Holdings Australia Limited (ASX:DHG) has received an unsolicited, non-binding indicative proposal from CoStar Group, Inc. to acquire 100% of its issued capital at $4.20 per share.
Offer Details
CoStar’s proposal involves an all-cash offer of $4.20 per Domain share, adjusted for any dividends declared or paid before the transaction’s completion, excluding the 2.0c dividend announced on 13 February 2025. CoStar has already acquired (on 20 February 2025) 16.9% of Domain’s ordinary shares at the same price.
Conditions for Completion
The acquisition is conditional upon CoStar entering into a scheme implementation agreement with Domain, subject to no material adverse changes to Domain’s business, satisfactory due diligence, unanimous board approval, internal approvals within CoStar, and execution of binding transaction documents. Additionally, approval from the Foreign Investment Review Board is expected to be required.
Board Assessment
The Domain Board has commenced an assessment of CoStar’s proposal. Shareholders are not required to take any action at this stage, and there is no certainty the proposal will result in a transaction. Domain will appoint advisers to assist in the process.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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