Steadfast Group Extends Exclusivity Period With Amwins-Dragoneer Consortium

MT Newswires Live

Jul 09

Steadfast Group (ASX:SDF) extended its exclusivity agreement with the Amwins Group and Dragoneer Investment Group consortium after the bidders reaffirmed their commitment to a proposed AU$6-per-share cash acquisition of the company through a scheme of arrangement, according to a Thursday Australian bourse filing.

The extension grants the consortium an additional four-week period of soft exclusivity to complete due diligence, but the company said there is no assurance the parties will reach a binding agreement or complete a transaction, per the filing.

The company added that shareholders do not need to take any action at this stage.

Steadfast Group's shares added about 1% in recent Thursday trade.

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