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Monday - Nine Entertainment Co. Holdings Ltd. confirmed its engagement in discussions with CoStar Group (NASDAQ:CSGP), Inc. about a potential acquisition of 100% of Domain Holdings Australia Ltd.’s issued capital. Nine, as the controlling shareholder of Domain, is deliberating on an unsolicited, non-binding, indicative proposal from CoStar, alongside direct discussions with Domain itself. The talks are currently private and there is no assurance that they will result in a revised proposal from CoStar.
Nine is carefully considering the offer, weighing the strategic importance of Domain and aiming to act in the best interest of its shareholders. For this purpose, Nine has enlisted the financial expertise of Jefferies Australia and the legal guidance of Ashurst.
Domain Holdings has publicly stated that it has not received any updated proposals from CoStar since February 21, 2025. The Domain Board is still reviewing the initial proposal and is being supported in this process by UBS Securities Australia Limited and the law firm Gilbert + Tobin.
The proposal in question was first received by Domain on February 21, 2025, when CoStar expressed interest in taking over the entire issued share capital of the company. This move by CoStar is part of a broader trend of consolidation within the real estate and property technology sectors.
Both Nine and Domain are currently in the process of evaluating the merits and potential outcomes of the proposal. The discussions are ongoing, and further details will be disclosed if and when they become available and are deemed relevant for the shareholders and the public.
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