Consortium reconfirms takeover proposal for Steadfast

• The consortium reconfirms its non-binding proposal to acquire Steadfast Group (ASX:SDF) for $6 cash per share, less any declared dividends.
• The exclusivity period under the process deed is extended for two weeks until Aug. 19 to finalise documentation.
• Steadfast stated that due diligence investigations have been substantially completed by the buying group.

Steadfast Group (ASX:SDF) confirmed that a consortium featuring Amwins Group, Dragoneer Investment Group, and Kohlberg Kravis Roberts & Co. L.P. has reconfirmed its non-binding proposal to acquire the business for $6 cash per share.

The updated timeline follows eight weeks of progress where due diligence investigations were substantially completed by the buying parties.

The consortium is committed to completing remaining confirmatory checks and finalising internal approvals during the extended exclusivity window.

The exclusivity period will run for two weeks until Aug. 19 to allow both sides to finalise transaction documentation and complete final reviews.

The Steadfast board noted that there is no guarantee a binding agreement will be reached or that the proposal will result in a completed transaction.

Shareholders do not need to take any action regarding the proposal at this current stage while discussions continue.

Following the announcement, the Steadfast Group share price was up at $5.36.