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Investing.com-- U.S. real estate data firm CoStar Group (NASDAQ:CSGP) has agreed to acquire Australia’s Domain Holdings (ASX:DHG) for an implied enterprise value of A$3.0 billion ($1.9 billion), the target company announced on Friday.
Under the scheme implementation deed, CoStar will pay A$4.43 per share in cash, representing a 4.2% premium to Domain’s last closing price on Thursday. The deal also includes a potential special dividend of up to A$0.10 per share.
Domain’s board has unanimously recommended the offer, pending no superior proposal and an independent expert’s approval.
Majority shareholder Nine Entertainment Co (ASX:NEC), which owns 60.1% of Domain, also supported the transaction, the company said in a statement.
Domain shares jumped 3% to A$4.38 as of 00:47 GMT, reaching their highest level since late March 2025.
The acquisition is expected to close in the third quarter of 2025, the company said.
CoStar, which already holds a 16.9% stake in Domain through its subsidiary, expects to expand its global real estate data platform from this deal.
Domain, a leading Australian property listings firm, will continue operating under its brand, bolstered by CoStar’s resources if the deal goes through.