Zoopla’s £460m bid for Gio
THE owner of property portal Zoopla has made a £460million takeover approach for price comparison site GoCompare.
ZPG, whose brands also include uSwitch and Hometrack, said its proposal, valuing GoCompare’s shares at 110p, was made last week but rejected. It is now “considering its position”. GoCompare, whose advertising campaign is fronted by fictional opera singer Gio Compario, said the proposal “fundamentally undervalues” the business. Its shares jumped 9¼p to 102p.
It is chaired by insurance entrepreneur Sir Peter Wood, who founded Direct Line in 1985.