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18 stories mentioning ASX:SDFUpdated 18d ago

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Asia

Steadfast Group Fiscal 2026 Underlying Earnings, Revenue Up

Steadfast Group (ASX:SDF) logged AU$0.288 in underlying earnings per share for the fiscal 2026, compared with AU$0.267 a year ago, according to a filing on Tuesday after market hours.Analysts polled by FactSet expected earnings of AU$0.31.For the 12 months ended June 30, underlying revenue was AU$2.1 billion versus AU$1.83 billion previously, the Australia-listed insurance services company added. Analysts polled by FactSet expected AU$2.06 billion.The board declared a final dividend of AU$0.1275 per share, up from AU$0.117 a year earlier, payable Sept. 25 to shareholders on record as of Sept. 3.The company expects fiscal 2027 underlying net profit after tax and amortization of AU$382 million to AU$392 million, underlying earnings before interest, taxes, depreciation and amortization of AU$700 million to AU$715 million, and underlying EPS growth of 4% to 8%. Analysts polled by FactSet expect underlying EPS of AU$0.32 in fiscal 2027.

ASX:SDF
Asia

Steadfast Group Enters Takeover Deal With Amwins, Dragoneer, KKR-Backed Consortium

Steadfast Group (ASX:SDF) entered into a scheme implementation deed with Amwins Australasia, a subsidiary of Amwins Group, and Starboard BidCo, an entity backed by affiliates of Dragoneer Investment Group and Kohlberg Kravis Roberts (KKR), under which the bidder agreed to acquire all issued shares in the company for AU$6 per share in cash, less the cash amount of any permitted dividends of up to AU$0.20 per share, according to an Australian bourse filing on Aug. 21 after market hours.The offer represents a nearly 52% premium to the company's undisturbed share price of AU$3.95, valuing the company at an enterprise value of around AU$7.7 billion, per the filing.The company's board unanimously recommends the deal, which remains subject to shareholder, court and regulatory approvals, including clearance from the Foreign Investment Review Board, Australian Competition and Consumer Commission and other regulators, the filing said.Amwins will acquire the company's underwriting agency business following completion of the deal, while Starboard BidCo will retain the broking business.Implementation is expected to take place in December, and no action is required from shareholders at this stage, the filing added.

ASX:SDF
Asia

Steadfast Group Requests Trading Halt Pending Deal Disclosure

Steadfast Group's (ASX:SDF) shares will be halted from trading pending the disclosure of a consortium's deal to acquire the company, according to a Friday filing with the Australian bourse.The company said all substantive issues related to transaction documentation have now been agreed by the parties.Steadfast shares will remain under a trading halt until earlier of the statement's release or the start of trading on Aug. 25.

ASX:SDF
Asia

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

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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Asia

Australian Shares Up; FleetPartners Group Receives Non-Binding, Conditional Offer From SG Fleet

Australian shares rose on Monday, as investors reacted to optimism regarding the potential resolution of the conflict in the Middle East.The S&P/ASX 200 Index gained 0.47%, or 42.50 points, to close at 9,019.30.Brent crude oil futures fell to trade around $83 per barrel. Earlier, US President Donald Trump had said he cancelled strikes on Iran after Iran and other Middle Eastern countries had asked for time to complete a peace deal.On Friday, the Nasdaq Composite rallied 1% on the back of strong earnings from tech giants, while the S&P 500 and the Dow Jones Industrial Average rose 0.7% and 0.5%, respectively.On the domestic front, Australia's home value index declined 0.7% in July, representing the largest drop since December 2022, as the country's housing market downturn expanded to hit more regions, Cotality said.The Australian manufacturing sector recorded modest returns to growth in July, with production and new orders increasing for the first time in six months and employment rising at the sharpest rate since January. The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Managers' Index rose to 52 in July from 51.5 in June.In company news, FleetPartners Group (ASX:FPR) received an unsolicited, indicative, non-binding, and conditional offer from SG Fleet Topco to acquire all of the outstanding shares in the company through a scheme of arrangement at AU$3.60 apiece. The company's shares earlier rose over 16% to their highest since August 2024.Westpac Banking (ASX:WBC, NZE:WBC) completed the sale of the RAMS home loan portfolio, around AU$15.4 billion at completion, to a consortium consisting of Pepper Money (ASX:PPM), credit funds and accounts managed by KKR, and PIMCO managed funds.Lastly, 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.

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Asia

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

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.

ASX:SDF
Asia

Australia's Federal Court Dismisses Dynamic Insurance Services' Representation Application in Competition Case Against Steadfast Group, QBE Insurance

Australia's Federal Court dismissed an application that sought approval for Dynamic Insurance Services Managing Director Cynthia Yap to represent the company in place of a lawyer in a case it filed against Steadfast Group (ASX:SDF), QBE Insurance (ASX:QBE), and Allianz Australia Insurance, according to a Wednesday judgement.Dynamic Insurance has alleged that Steadfast, QBE, and Allianz misused their market power and engaged in anti-competitive practices."As a non-lawyer, it is inevitable that Ms Yap will encounter difficulties pleading and articulating sustainable causes of action that, irrespective of the underlying merits of the claims, is likely to lead to delay, increased cost and inefficiency in the conduct of the proceeding," the court said.It also pointed to "a significant risk" that Yap will not be able to maintain objectivity to conduct the proceedings on behalf of Dynamic Insurance.QBE Insurance shares fell 3% in recent Wednesday trade, while Steadfast was marginally lower.

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Asia

Australian Shares Flat; Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share

Australian shares were again flat on Tuesday as oil prices continued to surge, following the US reimposition of a naval blockade over Iran.The S&P/ASX 200 Index was unchanged to close at 8,808.50.Brent crude oil futures surged to trade around $84 per barrel. US President Donald Trump said the US would impose a 20% toll on shipping in the Strait of Hormuz.Overnight, the S&P 500, Nasdaq Composite, and Dow Jones fell 0.8%, 1.6%, and 0.3%, respectively.On the domestic front, Australian consumer confidence rose 0.6 points to 75.3 points in the week of July 6 to 12, with improving confidence in the economic and financial outlook over the next 12 months, ANZ said. The four-week moving average rose 1.1 points to 74.7 points.Australia's Westpac-Melbourne Institute Consumer Sentiment Index rose 4.1% to 83.9 in July from 80.6 in June, as consumers showed relief that worst-case scenarios such as higher energy prices had not played out.Business confidence in Australia rose 9 points to negative 5 in June, driven by gains in retail and manufacturing, National Australia Bank said. Confidence remains 4 points below its February level and below the long-run average of 5 index points.In company news, Genesis Minerals (ASX:GMD) agreed to acquire Vault Minerals (ASX:VAU) for AU$5.274 per share. Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold.Light & Wonder (ASX:LNW) said it remained on track to meet its previously announced 2026 financial outlook of mid-to-high single-digit consolidated adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) growth.Lastly, Steadfast Group (ASX:SDF) said KKR joined the Amwins Group and Dragoneer Investment Group consortium as a co-lead investor in the company's retail brokerage business. Amwins and Dragoneer in June offered to acquire Steadfast for AU$6 per share in cash.

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Asia

Steadfast Group Says KKR Joins Amwins-Dragoneer Acquisition Consortium

Steadfast Group (ASX:SDF) said KKR joined the Amwins Group and Dragoneer Investment Group consortium as a co-lead investor in the company's retail brokerage business, according to a Tuesday filing with the Australian bourse.Amwins and Dragoneer in June offered to acquire Steadfast for AU$6 per share in cash, with the non-binding agreement representing an enterprise value of about AU$7.7 billion.KKR's participation will not impact the transaction's timetable and is not a condition to Amwins and Dragoneer entering into binding agreements with Steadfast, per the filing.Steadfast cautioned that there is still no guarantee of a final deal materializing.The company's shares gained 1% in recent Tuesday trade.

ASX:SDF
Asia

Australian Shares Fall; Catalyst Metals Enters Gold Forward Contracts for 30,000 Ounces at AU$6,075 Per Ounce

Australian shares declined again on Thursday as investors reacted to another rise in oil prices after the US conducted fresh strikes on Iran.The S&P/ASX 200 Index fell by 0.26%, or 22.60 points, to close at 8,762.50.Brent crude oil futures rose over 1% to trade around $78 per barrel as the US struck Iran in fresh strikes. US President Donald Trump said the ceasefire with Iran was effectively "over."Gold fell for three consecutive sessions to around around $4,080 per ounce.On the domestic front, the International Monetary Fund (IMF) lowered Australia's economic growth estimate for 2026, citing the drag from higher global energy prices and softer global momentum resulting from ongoing geopolitical tensions.In company news, Catalyst Metals (ASX:CYL) entered into gold forward contracts for 30,000 ounces of gold at a fixed price of AU$6,075 per ounce, with deliveries spread evenly over 15 months at 2,000 ounces per month starting in August, representing 2% of reserves or one quarter of production.FDC Consolidated Holdings (ASX:FDC) shares jumped over 13% in Thursday's trade as the construction firm made its debut on the Australian exchange. The company raised AU$400.8 million in its initial public offering through the issue of about 133.6 million shares at a price of AU$3 each.Steadfast Group (ASX:SDF) extended its exclusivity agreement with the Amwins Group and Dragoneer Investment Group consortium after the bidders reaffirmed their commitment to a proposed AU$6-per-share cash acquisition of the company through a scheme of arrangement.

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Asia

Steadfast Group Extends Exclusivity Period With Amwins-Dragoneer Consortium

Steadfast Group (ASX:SDF) extended its exclusivity agreement with the Amwins Group and Dragoneer Investment Group consortium after the bidders reaffirmed their commitment to a proposed AU$6-per-share cash acquisition of the company through a scheme of arrangement, according to a Thursday Australian bourse filing.The extension grants the consortium an additional four-week period of soft exclusivity to complete due diligence, but the company said there is no assurance the parties will reach a binding agreement or complete a transaction, per the filing.The company added that shareholders do not need to take any action at this stage.Steadfast Group's shares added about 1% in recent Thursday trade.

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Asia

Jarden Research Adjusts Steadfast Group's Price Target to AU$5.90 from AU$5.65, Keeps at Overweight

Steadfast Group (ASX:SDF) has an average rating of overweight and mean price target of AU$5.74, according to analysts polled by FactSet.

ASX:SDF
Asia

Steadfast Group's Potential Acquisition by Amwins-Dragoneer Consortium Would Be at Cyclically Depressed Multiple, Jarden Says

Steadfast Group's (ASX:SDF) potential acquisition by the Amwins-Dragoneer consortium means the consortium would be capturing Steadfast at a cyclically depressed multiple even with the large headline premium, Jarden said in a Wednesday note.The company confirmed a conditional, non-binding indicative proposal from a consortium of Amwins and Dragoneer, Amwins' largest shareholder, to acquire 100% of Steadfast at AU$6 cash per share via a scheme of arrangement.The AU$6 bid implies a take-out multiple of around 20.7x fiscal 2026 earnings-per-share estimates, below the last two broker schemes. The bid supports sector valuations.The investment firm retained its overweight rating on Steadfast Group and raised the price target to AU$5.90 from AU$5.65.Steadfast Group's shares shed nearly 2% in recent Thursday trade.

ASX:SDF
Asia

Australian Shares Rise; Steadfast Group Receives AU$8 Billion Takeover Proposal From Amwins, Dragoneer

Australian shares rose on Wednesday amid freshly renewed hostilities between the US and Iran.The S&P/ASX 200 Index gained 0.57%, or 49.10 points, at 8,653.30.Brent crude oil futures rose to trade at around $91 per barrel after the US held Iran responsible for the downing of a US military helicopter.On the domestic front, seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 3.4% to 16,710 in April from 17,307 in the previous month, according to final figures released by the Australian Bureau of Statistics.The ANZ-Roy Morgan Australian consumer confidence rose 2 points to 70.8 in the week of June 1 to June 7, ANZ reported. The four-week moving average rose 1.7 points to 68 points. Consumer sentiment improved broadly last week, with gains in financial conditions and medium-term confidence hitting their strongest levels since late February.In company news, Steadfast Group (ASX:SDF) said it received a conditional, non-binding, and indicative offer from Amwins Group and Dragoneer Investment Group to acquire the company by way of a scheme of arrangement at AU$6 per share in cash, representing an enterprise value of about AU$7.7 billion.Northern Star Resources (ASX:NST) Chairman Michael Chaney said that processing plant construction at Fimiston in Western Australia is nearing completion, on time and with a modest cost overrun. Chaney acknowledged that the firm's share price performance in the year had not met expectations and recognised shareholders' concerns.Lastly, Wesfarmers (ASX:WES) said it is partnering with artificial intelligence organizations to drive long-term sales and earnings growth. The company said it will use AI for agentic and conversational commerce and AI assistants for team members and supply chain optimization, among other applications.

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Asia

Steadfast Group Receives AU$8 Billion Takeover Proposal From Amwins, Dragoneer

Steadfast Group (ASX:SDF) said it received a conditional, non-binding, and indicative offer from Amwins Group and Dragoneer Investment Group to acquire the company by way of a scheme of arrangement at AU$6 per share in cash, representing an enterprise value of about AU$7.7 billion, according to a Wednesday Australian bourse filing.The company said the proposal implies a nearly 52% premium to its last closing price of AU$3.95 on Tuesday, with Dragoneer intending to acquire Steadfast's retail brokerage business and Amwins acquiring its underwriting agency business.Steadfast entered into an exclusivity and process deed with the consortium on Wednesday, with the board confirming it intends to unanimously recommend that shareholders vote in favor of the potential transaction in the absence of a superior proposal and subject to reaching agreement on acceptable terms of a binding scheme implementation deed, the filing added.Steadfast has also decided to terminate the proposed minimum holding buyback announced on May 12, it added.Trading in the company's shares was halted.

ASX:SDF
Asia

Steadfast Group Requests Trading Halt Ahead of Potential Material Transaction Disclosure

Steadfast Group (ASX:SDF) requested an immediate trading halt on the Australian Securities Exchange ahead of a disclosure concerning a potential material transaction, according to a Wednesday filing with the bourse.The company asked for its securities to remain under a trading halt until the earlier of market open on Friday or the release of the announcement.

ASX:SDF
Asia

KKR Entities Reduce Stake in Steadfast Group

Steadfast Group (ASX:SDF) said the voting power of Kohlberg Kravis Roberts (KKR) entities in the firm decreased to 5.21% from 6.25% previously on Monday, according to a Thursday Australian bourse filing.The KKR entities include Comet Asia Holdings II, Comet Asia Holdings I, KKR Asia III Fund Investments, and KKR Asian Fund. They now hold nearly 58 million fully paid ordinary shares in the firm.

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Asia

Steadfast Group Launches Minimum Holding Buy-Back

Steadfast Group (ASX:SDF) initiated a buy-back program for shareholders holding "unmarketable parcels" valued at less than AU$500, aiming to reduce the administrative costs associated with managing small shareholdings, according to a Tuesday filing with the Australian bourse.The company will repurchase and cancel around 51,621 shares held by 745 shareholders at AU$4.11 per share, based on the recent volume-weighted average price, per the filing.Shareholders holding 122 shares or fewer as of the record date of May 11, based on a closing price of AU$4.07 per share, will be automatically included in the program unless they opt out by submitting a retention form by June 26, the filing added.

ASX:SDF

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