Article ID: d56d8b881729d3e917fefd0c7c2be48d69ccb7570a78cfe550785ac1b65684c2
Source ID: primary:insurancejournal.com
Published At: -
Extraction Method: trafilatura
URL: https://www.insurancejournal.com/news/international/2026/07/09/876808.htm
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Australia’s Steadfast said on Thursday that Amwins Group and Dragoneer Investment had reaffirmed their takeover proposal valuing the insurance broker at A$7.7 billion ($5.34 billion), prompting a four-week extension of the exclusivity period. Here are some details: - The consortium reaffirmed its offer of A$6 per share, which values the Sydney-headquartered firm at an enterprise value of A$7.7 billion. - The offer price represents a 52% premium to the last closing price before the original proposal was tabled. - The current bid marks the third and highest approach after earlier offers of A$5.50 and A$5.83 per share failed to secure an agreement. - Under the proposed transaction, Amwins, an insurance distributor, will acquire Steadfast’s underwriting agency operations, while U.S.-based Dragoneer Investment will take control of the retail brokerage business. - Shares of the firm marginally rose 0.4% to A$5.17 in the early hours of trading, while the broader ASX 200 index .AXJO was down 0.8%. ($1 = 1.4426 Australian dollars) (Reporting by Kumar Tanishk in Bengaluru; editing by Rashmi Aich) Related: Copyright 2026 Reuters. Click for restrictions. Topics Australia Was this article valuable? Here are more articles you may enjoy.
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