Exclusive-US Activist Sachem Head wants Rightmove to consider sale, talk with potential buyers, sources say

Activist investor Sachem Head is urging the UK online property listing firm Rightmove to consider a potential sale and engage in discussions with interested buyers, according to sources. The New York-based hedge fund, established by Scott Ferguson in 2013, currently holds a significant 9% stake in Rightmove, making it the company's largest shareholder.

This stake surge has coincided with a decline in Rightmove's share price, which has fallen over 30% from its August 2025 peak despite the FTSE 100 index gaining over 18% during the same period.

Sachem Head has been in contact with Rightmove's board, as confirmed by two sources familiar with the matter. The $7 billion fund has not specified any particular acquirer but has emphasized the importance of boosting Rightmove's share price and returning value to shareholders through the potential sale. Sachem Head, known for its successful activism strategies, has not previously reported pressuring Rightmove to consider a sale.

The activist investor's approach is characterized by its discreet involvement in targeting companies for possible acquisitions. In the past, Sachem Head has advocated for sales at other companies, including when Scott Ferguson held a board seat at Delivery Hero, which subsequently agreed to be acquired by Uber. Despite Rightmove's board rejecting a $8.29 billion takeover offer from Australian firm REA in 2024, Sachem Head remains committed to exploring various options to increase Rightmove's shareholder value.