CoStar to Make Bid for Australia’s Domain Holdings, AFR Reports

CoStar Group Inc. plans to make an offer to buy Domain Holdings Australia Ltd., the Australian Financial Review reported.

The US property firm is poised to send a non-binding offer letter to Domain’s board to buy all of the company’s stock for as much as A$4.20 a share, or 35% above its last close, according the report.

The bidder, a client of Macquarie Capital, bought a 7.5% stake and plans to keep raising its holdings in Domain, according to the report, which cited a term sheet. Australian exchange data showed an undisclosed investor bought 47.4 million shares, ...