Steadfast Group confirms KKR joining $6.7b consortium suitor
Make us a preferred source
Make us a preferred source on Google
The news: Insurance broker Steadfast Group has confirmed that Amwins Group and Dragoneer Investment Group have added KKR to its $6.7 billion consortium bid for the company.
The numbers: The existing non-binding indicative proposal from the consortium is to pay $6 per Steadfast share in cash, minus any dividends of distributions declared or paid by Steadfast after 5 June.
Given Steadfast has 1,111,991,628 shares on issue, the offer implies Steadfast is valued at $6.67 billion.
Steadfast entered a trading pause ahead of this announcement.
The context: Amwins and Dragoneer confirmed that KKR’s participation will not impact the existing transaction timetable. Steadfast said it had entered an exclusivity and process deed with the initial consortium on 10 June with confirmation of their interest announced to the exchange on 9 July.
The confirmation had triggered a four-week extension to the soft exclusivity period.
Steadfast received confirmation that KKR had signed onto the existing confidentiality deed on 8 July 2026. The prospect of KKR joining was first reported by The Australian.
The sources: ASX, ASX, The Australian
