Daily Mail Makes $83 Million Offer For Property Site

The pace of M&A in the jobs and property websites in UK has been ferocious in UK over the last 6-8 months, as mainstream newspaper and media groups are snapping up all the independents in the sector. Now Daily Mail & General Trust Plc is making a cash offer for property website operator Fastcrop (parent of Primelocation.com) worth about $83.2 million.

Analysts said that based on page views the Daly Mail group will have a 20 percent market share of UK online property advertising, well behind the market leader, Rightmove.

Release: DMGT has already received irrevocables from more than 75% of Fastcrop shareholders to accept the offer, which has been recommended by the internet company’s board.

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