Exclusive Report - Sources say Sachem Head hopes Rightmove will consider a sale and engage with potential buyers.

Amy-Jo Crowley/Svea Herbst-Bayliss

Reuters, London/New York, November 13 - Four sources familiar with the matter said activist investor Sachem Head is urging UK online property information company Rightmove (RMV.L) to consider a sale and engage with potential buyers, sparking renewed speculation over a possible takeover two years after the board rejected an approach.

One of the sources said New York-based Sachem Head, a $7 billion hedge fund founded by Scott Ferguson in 2013, increased its stake in Rightmove over the summer and now holds about 9% of its shares. According to data from London Stock Exchange Group (LSEG), this makes it the company's largest shareholder.

Although the FTSE 100 Index in London rose 18% over the same period, Rightmove's share price has fallen about 36% from its August 2025 peak, potentially giving activist investors reason to push for a sale.

Two of the people said Sachem Head has already reached out to Rightmove's board; both asked not to be named because the talks are private.

A representative for Sachem Head declined to comment, and Rightmove did not respond to requests for comment.

As one of the most successful activist investors in the industry, Sachem Head typically works with its target firms behind the scenes, and its push for Rightmove to consider a sale has not been previously reported. Sachem Head has previously actively encouraged certain companies to pursue sales, and Ferguson has served as a director at Delivery Hero, which agreed to be acquired by Uber (UBER.N) earlier this year.

According to two of the sources, the U.S. activist investor believes there are ways for Rightmove to boost its share price.

Sources said Sachem Head believes Rightmove management could use its low-leverage balance sheet to increase returns to shareholders.

They added that most importantly, Sachem Head is strongly urging Rightmove to reassess the benefits of a sale and to reengage with any interested acquirers.

At Rightmove, talks about a possible deal collapsed after the board rejected an enhanced $8.29 billion offer from Australian company REA in 2024.

(To assist non-native English speakers, Reuters has automatically translated its report into several other languages. Because automated translations may contain errors or lack needed context, Reuters does not guarantee the accuracy of the translated text. The translation is provided solely for readers' convenience. Reuters is not liable for any damage or loss arising from use of the automated translation feature.)