Shareholders of Domain Holdings Australia have overwhelmingly approved a proposed $3 billion takeover by US property data giant CoStar Group, marking a major step forward in one of the year’s largest real estate tech deals.
At a scheme meeting, Domain shareholders voted decisively in favour of the acquisition, which will see CoStar acquire the ASX-listed real estate platform through its wholly owned subsidiary, Andromeda Australia SubCo Pty Ltd.
In a statement to the ASX, Domain said 99.98 per cent of the votes cast supported the scheme resolution, with 91.22 per cent of shareholders present and voting also in favour.
The approval follows CoStar’s binding offer in May 2025 to acquire Domain at $4.43 per share, representing a premium of over 50 per cent to the stock’s one-month volume-weighted average price prior to the deal.
The proposal values Domain at approximately A$3.0 billion and has already received strong support from Domain’s largest shareholder, Nine Entertainment Co., which owns approximately 60 per cent of the company.
Court hearing next
While the shareholder approval is a major milestone, the scheme remains subject to court approval and several regulatory conditions. A hearing is scheduled for Wednesday, 6 August 2025, in the NSW Supreme Court.
If approved, Domain will lodge the court orders with the Australian Securities and Investments Commission on Thursday, 7 August, making the scheme legally effective.
Shares in Domain are expected to be suspended from trading at the close of that day, with implementation slated for Wednesday, 20 August, when cash consideration will be paid to eligible shareholders.
Strategic Shift
The acquisition marks a significant expansion of CoStar’s footprint in Australia and the Asia-Pacific region. Known for its powerful real estate data and analytics platforms in the US and Europe, CoStar has signalled strong interest in Domain’s media reach, digital classifieds infrastructure, and long-term strategic value.
Industry observers say the deal could reshape Australia’s property technology landscape, with agents, developers and investors likely to see increased integration between media, listings, and data services.
An independent expert appointed by Domain, Grant Samuel & Associates, concluded that the scheme is fair and reasonable and in the best interests of shareholders, in the absence of a superior proposal.
Pending final approvals, Domain shareholders will receive their scheme consideration in full by late August.
