Domain

Andy Florance’s $3 billion Domain bid sets the stage for a high-stakes clash with REA Group, as both prepare for sweeping leadership changes.

Proxy adviser Institutional Shareholder Services is backing CoStar’s Domain takeover, putting former CEO Pellegrino on track for a multi-million-dollar payday.

The portfolio manager predicts REA will withstand CoStar’s challenge — and shares his broader market outlook, stock picks and views on US-driven volatility.

The two companies could have an exclusivity and process deed signed and released to the market as early as Monday morning, after CoStar lobbed a revised takeover bid last week.

The legacy media operator's lack of response to a bid for its once prized digital asset Domain has added to the intrigue surrounding the closely watched deal.

US analysts describe CoStar CEO Andy Florance as smart, savvy and a feared competitor, expecting him to invest heavily to challenge REA Group’s dominance.

Thomson believes the company’s publishing assets will ensure REA maintains its edge, even if CoStar’s Andy Florance succeeds in his bid for Domain.

The acting CEO was set for his final audition for the job on a permanent basis. Now a $2.6 billion bid for Domain has thrown a curve ball into the situation.

CoStar, the US real estate company with a takeover of Domain firmly in its sights, has a track record of challenging market leaders in the US and the UK.

The Nine-controlled real estate platform said its board, who market sources say has sounded out UBS to assist, has started work on assessing the offer.

Domain's chairman Nick Falloon was overseas, interim CEO Greg Ellis is just days into the new role, and its top shareholder Nine is in flux as a takeover bid landed.

The dealmaker has quietly built a small position in Nine as Australia’s largest local media company looks to crown its next CEO and undergoes a strategic review.