Andy Florance, the outspoken American founder of USD40 billion ($61.3 billion) US property giant CoStar, has been an omnipresent figure in the Australian market over the past week.
After Florance’s $3 billion bid to acquire Domain was given the all-clear last week, attention turned to intrigue around the executive one Wall Street analyst described as the CEO he’d least like to go up against. He has been the subject of public and private discussion among competitors all week, some of it about how his persona will be received by the Australian market and media.
Still, the leadership teams at News Corp and its crown jewel, REA Group, insist he won’t be able to spend his way to market domination.
Whichever way you cut it, the battle between REA Group and Domain, which Florance’s CoStar is set to absorb later this month, is about to find a new gear, as both companies prepare for major leadership changes.
