The reaffirmed offer stands at A$6 per share, a valuation that represents a 52% premium over the company’s share price prior to the initial approach. This latest bid serves as the third attempt by the consortium, following two prior offers of A$5.50 and A$5.83 per share that failed to result in a definitive agreement.
Under the proposed structure, the assets would be split between the partners. Amwins, an insurance distributor, intends to absorb Steadfast’s underwriting agency operations, while Dragoneer Investment would assume control of the retail brokerage division. Following the announcement, Steadfast shares saw a modest 0.4% increase to A$5.17, bucking the downward trend of the broader ASX 200 index.
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