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Steadfast Group Says Consortium Confirms AU$6 per Share Acquisition Proposal; Shares Gain 5%

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Steadfast Group (ASX:SDF) said a consortium comprised of Amwins Group, Dragoneer Investment Group, and KKR reconfirmed its intention to proceed with a proposal to acquire the company at AU$6 per share in cash, according to a Monday filing with the Australian bourse.

The consortium's due diligence process is substantially complete, and it remains committed to obtaining the required internal approvals for the deal, per the filing.

The parties have an exclusivity period that runs until Aug. 19 to finalize transaction documentation.

Steadfast cautioned that there is no guarantee of a binding agreement.

The company's shares gained 5% in recent Monday trade.

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