Just months ago, Domain was a $2bn underdog.
Domain had long trailed its rival REA Group, struggling to shake its second-place tag.
Then came a $3bn play that changed everything.
US real estate data giant CoStar swooped in with a cash bid at $4.43 a share — a massive 50% premium. That sealed the deal for Nine Entertainment, Domain’s 60% owner.
Here’s how Gilbert + Tobin, Corrs Chambers Westgarth and Ashurst steered one of Australia’s biggest M&A deals of 2025.
CoStar comes calling
CoStar didn’t waste time.
In February, it quietly snapped up 16.9% of Domain at $4.20 a share — a bold $452 million toehold that showed commitment and boxed out rivals.
Weeks later, CoStar sweetened its offer to $4.43.
That sealed Nine’s support and, by March, exclusivity was locked in.
From there, the takeover path was clear. But with a US buyer, a scheme structure, and a controlling shareholder in the mix, heavyweight lawyers were essential.
The legal line-up
The legal line-up was telling.