Domain to suspend trading today as court approves $3b CoStar buyout

The news: Real estate platform Domain will suspend trading on the ASX from close of trading today, after the Supreme Court approved its $3 billion takeover by Nasdaq-listed property group CoStar on Wednesday.

The numbers: Domain shareholders will be paid a special dividend of 8.8 cents per share on 19 August.

The implementation of the scheme, expected on 27 August, will see Domain shareholders receive $4.342 cash per Domain share.

The context: Shareholders voted overwhelmingly in favour of the takeover on Monday.

CoStar has previously announced plans to delist the company and install former Domain CEO Jason Pellegrino as the company’s local president.