Domain Holdings has dispatched its Scheme Booklet to shareholders detailing the proposed acquisition by CoStar Group, with strong endorsements from the Board and controlling shareholder Nine Entertainment ahead of the August vote.
- Scheme Booklet dispatched to Domain shareholders
- Domain Board unanimously recommends voting in favour
- Nine Entertainment, controlling shareholder, supports the Scheme
- Hybrid Scheme Meeting scheduled for 4 August 2025
- Independent Expert’s positive assessment remains a key condition
Scheme Booklet Dispatch Marks Key Step in CoStar Takeover
Domain Holdings Australia Limited has taken a significant procedural step in its proposed acquisition by US-based CoStar Group, Inc., dispatching the Scheme Booklet to its shareholders. This document provides comprehensive details about the Scheme of Arrangement under which CoStar aims to acquire all outstanding Domain shares. The dispatch signals the transition from announcement to shareholder decision-making, setting the stage for the upcoming vote.
Board and Major Shareholder Signal Strong Support
The Domain Board has unanimously recommended that shareholders vote in favour of the Scheme, subject to no superior proposal emerging and the Independent Expert maintaining its conclusion that the deal is in shareholders’ best interests. This endorsement is critical, as it reflects confidence in the transaction’s value and strategic rationale. Adding weight to this recommendation, Nine Entertainment Co. Holdings Limited, Domain’s controlling shareholder with a 60.05% stake, has also confirmed its intention to vote in favour, barring any better offers.
Shareholder Meeting to Decide Domain’s Future
The Scheme Meeting is scheduled for 10 – 00am (AEST) on Monday, 4 August 2025, and will be conducted as a hybrid event, allowing shareholders to participate either in person at Domain’s Pyrmont offices or virtually via an online platform. Shareholders registered by 7 – 00pm on 2 August will be eligible to vote. Proxy voting is also available, with forms provided alongside the Scheme Booklet. This meeting will be the decisive moment for Domain’s ownership and strategic direction.
Independent Expert Report and Conditions Remain Pivotal
Central to the Scheme’s progress is the Independent Expert’s Report, prepared by Grant Samuel, which continues to affirm the Scheme’s benefits for shareholders. The Board’s recommendation and Nine’s voting intention are both contingent on this positive assessment persisting. Should the expert’s view change or a superior proposal arise, the dynamics could shift, introducing uncertainty into the process.
What Lies Ahead for Domain and the Australian Property Listings Sector
If approved, the acquisition by CoStar would mark a major shift in Domain’s ownership, potentially accelerating its integration into a global property data and analytics platform. This could have broader implications for the Australian real estate listings market, influencing competition and innovation. Investors and industry watchers will be closely monitoring the Scheme Meeting outcome and any developments around rival bids or expert opinions.
Bottom Line?
The upcoming shareholder vote will be a pivotal moment, with the potential to reshape Domain’s future and the Australian property listings landscape.
Questions in the middle?
- Will any superior proposal emerge before the Scheme Meeting?
- How might CoStar’s ownership transform Domain’s strategic priorities?
- What impact could this acquisition have on competition in the Australian property market?