Why Did 99.98% of Domain Shareholders Vote to Approve CoStar Deal?
Domain Holdings Australia Limited shareholders have overwhelmingly approved the proposed acquisition by CoStar Group, marking a pivotal step toward the deal’s completion pending court approval.
- 99.98% of votes cast in favor of acquisition scheme
- Scheme meeting held on 4 August 2025
- Court approval hearing scheduled for 6 August 2025
- Domain shares expected to suspend trading on 7 August 2025
- Scheme implementation and payment planned for 20 August 2025
Shareholder Approval Secured
Domain Holdings Australia Limited (ASX, DHG) has taken a significant stride toward its acquisition by US-based CoStar Group, Inc. with shareholders overwhelmingly endorsing the proposed scheme. At the meeting held on 4 August 2025, an extraordinary 99.98% of votes cast by eligible shareholders were in favor of the transaction, signaling strong market confidence in the deal.
This decisive vote follows months of anticipation and negotiation, reflecting shareholders’ belief in the strategic benefits of joining forces with CoStar, a global leader in real estate information and analytics. The scheme resolution passed comfortably, with over 91% of shareholders present and voting supporting the proposal.
Next Steps and Court Approval
While the shareholder vote is a critical milestone, the acquisition remains subject to final court approval scheduled for 9, 15am (AEST) on 6 August 2025. Provided all outstanding conditions precedent are met or waived, the court is expected to approve the scheme, allowing Domain to lodge the official court orders with the Australian Securities and Investments Commission (ASIC) on 7 August.
Following this, Domain shares will be suspended from trading on the ASX at the close of business on 7 August, marking the transition phase toward the scheme’s implementation. The formal acquisition is anticipated to be completed on 20 August 2025, when CoStar will pay the agreed consideration to Domain shareholders.
Market and Strategic Implications
This acquisition represents a major consolidation in the online real estate services sector, combining Domain’s strong Australian market presence with CoStar’s extensive global data and technology capabilities. Investors will be watching closely to see how this integration unfolds and what it means for competitive dynamics in the real estate platform space.
For Domain shareholders, the near-unanimous vote underscores confidence in the value proposition offered by CoStar. However, the final court ruling and the satisfaction of all conditions remain crucial before the deal can be sealed.
Bottom Line?
With shareholder backing secured, all eyes now turn to the court’s verdict and the imminent suspension of Domain shares.
Questions in the middle?
- Will the court approve the scheme without conditions or delays?
- How will CoStar integrate Domain’s operations post-acquisition?
- What impact will the acquisition have on Domain’s market positioning and valuation?