03:10 PM EST, 02/20/2025 (MT Newswires) -- CoStar ( CSGP ) is reportedly planning a bid worth 2.7 billion Australian dollars ($1.72 billion) for Australian property listings company Domain, Reuters reported Thursday, citing sources with knowledge of the matter.

Domain is roughly 60% owned by Nine Entertainment, an Australian media group, the media outlet reported.

CoStar ( CSGP ) has purchased up to 19% of Domain's shares at 4.20 Australian dollars each, with intentions to acquire the entire company at the same price, Reuters said.

The proposed price is a 34.6% premium to Domain's Thursday closing share price of 3.12 Australian dollars, according to Reuters.

CoStar ( CSGP ), Domain and Nine Entertainment did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 78.27, Change: -0.94, Percent Change: -1.19