Shares in ZPG jumped 30 per cent to 486.2 pence at 9.22 am in London, the biggest advance since the company listed in 2014. Peel Hunt's price objective would suggest a potential upside of 0.53% from the company's current price.
The deal shows United Kingdom consumer-focused online companies are increasingly seen as attractive takeover assets, analysts said.
Daily Mail and General Trust PLC (LON:DMGT), ZPG's largest shareholder with just shy of 30% of the shares, has already given its support to the takeover, while ZPG's top brass have also given an irrevocable undertaking to accept the offer. "I am very excited about the opportunity this offers to our employees, customers and partners as we move to the next stage of ZPG's development and growth".
The classifieds sector was also boosted by the deal, with shares in Zoopla rival Rightmove and automotive firm Auto Trader both rising over the prospect of more M&As. It is due to report half-year results on May 23.
In fiscal year 2017, Zoopla reported 244.5 million pounds ($331 million) in revenues, up 24% on the year before, with 37.4 million pounds ($51 million) in profit.
As a point of comparison, this puts Zoopla at a just over a quarter of the size of its similarly-named USA counterpart Zillow, which this week reported revenues of $299.9 million for the previous quarter.
ZPG directors, who own 1.2% of the firm, said in a statement they considered the terms "fair and reasonable". What an outrage: a British technology whizz unceremoniously taken out by some raider from Silicon Valley and all for a paltry £2.2 billion.
"ZPG is a great growth technology company". It operates through Property Services and Comparison Services divisions.
The owner of property website Zoopla and comparison site Uswitch has agreed to be bought by a U.S. private equity firm. Get your FREE trial to Buyouts!
Louis Dreyfus Co said it had completed the sale of its metals business to a Chinese investment fund for $466 million, as part of a push to revive profits by focusing on its core agricultural markets. Other brands in this second category include Hometrack, Calcasa, TechnicWeb, Ravensworth, Alto, Jupix, ExpertAgent, PropertyFile and MoveIT.
Ford has sold 287,000 F Series trucks in the United States in the first four months of this year, up 4% compared to a year ago. The company is working with Meridian and other suppliers to minimize the disruption.
Lloyd Pierce has been on the Hawks' radar awhile, but it now appears that the Sixers' lead assistant is the favorite for the job. He also played college ball at Santa Clara (where he coached), playing next to two-time MVP Steve Nash.
In addition to this, they will also build their skills and knowledge levels required to implement WLAN in a small/medium network. At the end of the course, they will also be able to resolve regular issues with EIGRP, STP, and OSPF in IPv4 and IPv6 networks.
Officials with the agency wouldn't estimate the likelihood of such an explosion, but called it a "distinct possibility". Increased levels of sulfur dioxide gas could give rise to acid rain, though experts say it won't be unsafe .
When the professor asked what Chai was planning to do next. " I'm going to give the best damn speech of my life ", Chai responded. " The first thing that the professor said to me was 'is that really what you would wear?' " Chai said. " I am more than Asian ".
On Thursday, Mahathir Mohamad was sworn in as Malaysia's new prime minister, becoming the world's oldest elected leader at 92. TV live-broadcast showed that Mahathir, wearing traditional malay attire, pledged to serve the country and the people well.
Qualcomm last month said it expected lost sales to ZTE to lower its earnings by 3 cents per share in the current quarter. ZTE said in an announcement Wednesday that "the major operating activities of the Company have ceased".
As for Elliott, his Grand National trio this year are headed by three-time Cheltenham Festival winner Tiger Roll . The 2018 renewal has a typically wide-open feel and that’s certainly evident from a betting perspective.
Israel's PM Benjamin Netanyahu is known to be a huge critic of Iran and supports Donald Trump in pulling out of the Iran deal. But Israel and Russian Federation have maintained close communications to prevent their air forces from coming into conflict.
Boeing Chief Executive Dennis Muilenburg said last month the airplane manufacturer had no Iranian deliveries scheduled this year. The National Iranian Oil Company also said that Total would lose its stake in the field to CNPC if it withdraws from Iran.
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