The deal would give News Corp exposure to property markets of Thailand, Indonesia, Malaysia and Hong Kong just as Australian real estate advertisers like REA brace for a downturn at home following several years of double-digit growth.
In a statement on Monday, REA Group said it plans to pay A$4 per share for the 77.3 percent of iProperty that it does not already own, giving the target company a market capitalisation of A$751 million. iProperty would recommend the deal in the absence of a better offer.
