Sachem Head Pressures Rightmove to Seek Corporate Sale

Sachem Head Capital Management, a New York-based activist hedge fund, is pressing Rightmove to engage with potential buyers and consider a sale of the company. The fund, founded by Scott Ferguson, has become the largest shareholder in the UK online property listing firm after building a stake of approximately 9%.

This pressure follows a period of poor stock performance for Rightmove, whose share price has fallen more than 30% since its peak in August 2025, contrasting with an 18% rise in the FTSE 100 index. Sachem Head argues that Rightmove can improve shareholder returns by utilizing its under-leveraged balance sheet.

Rightmove shares rose 7.8% following reports of the activist's campaign. The company has previously resisted acquisition attempts, including an $8.29 billion takeover offer from the Australian company REA Group Ltd that the board rejected in 2024.