In a statement, OTM said: “OnTheMarket seeks to become the number one portal in the UK following an offer from CoStar Group.

Five seniors from CoStar in the US and Europe will now make up the portal's board, with its existing CEO, CMO and CFO remaining to run OTM but not on its board.

Over 90% of shareholders including many agents vote to accept the US firm's £1.10p per share offer.

Independent proxy advisor ISS recommends shareholders vote ‘for’ acquisition of OnTheMarket PLC by CoStar UK supporting the Board's recommendation.

Glentree boss and OnTheMarket founder Trevor Abrahmsohn warns agents could be held over a barrel if CoStar’s deal with the portal goes ahead.

Brett Stone has published a letter to all estate agents in the United Kingdom regarding CoStar UK’s proposed acquisition of OnTheMarket.