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OnTheMarket shareholders vote for CoStar takeover

OnTheMarket shareholders have backed a takeover of the portal by US-owned property brand CoStar UK.

It will bring an end to the agent-owned portal model.

A shareholder vote was held this morning following the takeover offer from CoStar last month, which was already backed by the board.


A stock market update this afternoon showed the takeover was approved by 94.22% of shareholders, representing 97.28% of share value held.

CoStar, owner of US portals Homes.com and Apartments.com, made a £100m takeover bid through its UK arm for OTM in November and vowed to “aggressively” build the business and grow its market share.

The offer is worth 110p per share for OTM.



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