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Steadfast Group Says Consortium Confirms Due Diligence Process in Final Stages; Shares Gain 4%

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Steadfast Group (ASX:SDF) said a consortium comprised of Amwins Group, Dragoneer Investment Group, and KKR on Monday confirmed that due diligence process is in the final stages, and the key commercial terms in the draft scheme implementation deed have been substantially agreed, according to a same-day filing with the Australian bourse.

The consortium also reconfirmed its plan to proceed with a proposal to acquire the company at AU$6 per share in cash, per the filing.

The parties' exclusivity period was extended until Friday to to finalize transaction documentation, complete due diligence, and obtain the remaining approvals.

Steadfast Group's shares climbed past 4% in recent trading on Monday.

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