Key facts
- Dream Finders Homes increased its offer for Beazer Homes to $32 per share.
- Beazer Homes acknowledged the improved bid but has not agreed to negotiations.
- Beazer Homes cited interest from other parties in its decision.
- Beazer Homes insisted on a standstill agreement.
- Dream Finders Homes views the standstill agreement as a 12-month restriction.
- Steadfast Group extended its exclusivity period with a US consortium.
- The US consortium includes Amwins Group and Dragoneer Investment Group.
- The consortium reaffirmed its takeover proposal for Steadfast Group.
- The proposal values Steadfast Group at A$7.7 billion ($5.34 billion).
- The offer for Steadfast Group is A$6 per share.
- The offer represents a 52% premium.
Dream Finders Homes has increased its takeover offer for Beazer Homes to $32 per share. Beazer acknowledged the improved bid but has not agreed to negotiations. Beazer cited interest from other parties and insisted on a standstill agreement, which Dream Finders views as a 12-month restriction.
In a separate development, Steadfast Group has extended its exclusivity period with a US consortium. This consortium comprises Amwins Group and Dragoneer Investment Group. They have reaffirmed their takeover proposal valuing the Australian insurance broker at A$7.7 billion, which equates to $5.34 billion. The offer of A$6 per share represents a 52% premium.