OnTheMarket faces investor backlash following failed acquisition offer

OnTheMarket faces investor backlash following failed acquisition offerEx-Cantor investor launches a scathing attack on the running of the property search portal and its decision to reject his investment bid

The real estate industry has been abuzz with news of OnTheMarket’s failed acquisition offer. OnTheMarket, a UK-based online property portal, recently attempted to acquire the rival portal Zoopla in a £2.2 billion deal. Unfortunately, the deal was blocked by the Competition and Markets Authority (CMA) due to concerns that it would reduce competition in the market.

The failed acquisition has caused a stir among OnTheMarket’s investors, who were expecting a significant return on their investment. OnTheMarket had previously announced that the acquisition would result in a £1 billion increase in its market value. However, with the CMA blocking the deal, this is no longer possible.

In addition to the financial losses, OnTheMarket’s investors are also concerned about the company’s future prospects. With the failed acquisition, OnTheMarket is now at a disadvantage compared to its competitors. It is likely that Zoopla will continue to dominate the market, leaving OnTheMarket with little chance of competing.

OnTheMarket’s investors have expressed their dissatisfaction with the company’s management and have called for changes to be made. They have criticised the company for not doing enough to ensure that the acquisition would be approved by the CMA and for not considering alternative strategies.

It remains to be seen how OnTheMarket will respond to the investor backlash. In the short-term, the company will need to focus on rebuilding investor confidence and finding new ways to compete in the market. In the long-term, it may be necessary for OnTheMarket to pursue other acquisitions or strategic partnerships in order to remain competitive.

Overall, OnTheMarket’s failed acquisition offer has caused considerable damage to its reputation and financial prospects. The company must now work hard to regain investor trust and find new ways to succeed in the real estate market.