U.S. real estate giant CoStar is reportedly preparing an A$2.7 billion ($1.72 billion) takeover bid for Australian property classifieds company Domain Holdings, according to a source with direct knowledge of the matter.
The source revealed that CoStar has been acquiring Domain shares at A$4.20 per share since Thursday, securing nearly 19% ownership. While CoStar declined to comment, Domain has yet to respond to a request from Reuters.
A term sheet reviewed by Reuters, which did not disclose the buyer, indicated plans for a full acquisition at A$4.20 per share—representing a 34.6% premium over Domain’s Thursday closing price of A$3.12.
CoStar’s bid could mark a major expansion into the Australian real estate market, strengthening its global presence in the property technology sector. Investors and industry experts will be closely watching for further developments.
