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.
The cast also includes Jake McLaughlin, Johanna Braddy, Russell Tovey, Alan Powell, Marlee Matlin, and Blair Underwood. The drama headlined by Priyanka will not return after its third season - already being telecast - runs its course.
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.
The "Infinity Gauntlet" mode will be available for free on Fortnite Battle Royale on PS4, Xbox One, PC, Mac and iOS. Variety estimates that Infinity War accounted for 96 percent of cinema revenues in China on Friday.
The Date Day: How To Behave When you meet your date offline for the first time, there are many things that can go wrong. That is a very responsible step that will either empower or destroy the already formed relationships.
We may be mid-way through 2019 but that doesn’t mean that racegoers have to say goodbye to brilliant horse racing events. Fans of the sport should mark the following in their diaries – these are some of the biggest horse races left for 2019.
The Tampa Bay Lightning suffered a 6-2 defeat in Game 1 against the Boston Bruins , then swept the next four games to advance. On the flip side, both teams are having a hard time on the penalty kill, especially Tampa Bay (WSH: 79.1%, TBL: 74.2%).
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.
Vice President Mike Pence is praising President Donald Trump's leadership at a rally in his home state of Indiana. Jim Renacci will also both win their state's Republican Senate primaries, according to the Fox News Decision Desk.
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.
However, Gustav Klimt bounced back with a fine performance at the Barronstown Stud Irish European Breeders Fund in June last year. Gustav Klimt moved to the inside down the final furlong and found just enough speed to beat out his compatriot Nebo by a head .
General Overview of Cisco CCNA R&S Questions and Answers
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.
European businesses most affected by USA sanctions on Iran
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.
Captain Democracy Flies to Malaysia's Rescue — CARTOON
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.
Danny Lee in share of second at Players Championship
Simpson was 11-under on the day through 16 holes before finding the water on the infamous 17th hole at TPC Sawgrass. After hitting the green from the drop zone, Simpson two-putted for a double bogey 5 that dashed any hopes of 59.
ZTE on life support after United States export ban
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".
Seeyouatmidnight to serve the Scots a Grand National double
He was runner-up behind Big River in the Edinburgh Gin Handicap Hurdle at Kelso and he then placed third at Newbury in March. Those having a bet on the Grand National will find him available at 16/1 with Paddy Power in the ante-post list.
How Technology Has Completely Changed the Way We Spend Money
The Rise of Mobile Payments Over the last few years, all of the major mobile innovators have stepped into the mobile payment game. As of 2016, Apple Pay had 12 million monthly users , a figure which is sure to rise substantially in the coming months and years.
The Early 2018 World Series Favorites
People expected this young Yankees team (which still has more significant talent on the way from AAA) to start competing in 2018. Taking into account a few articles and odds listings that are already out there, here’s our look at the top contenders. 1.