InvestSMART

Steadfast Group Limited (ASX:SDF)

ALERT: Price-sensitive ASX Announcement for SDF
Current share price for SDF : $5.690 1.74 (44.05%)+
Announcement
Release
10 Jun 2026 2:33PM
Price at Release
$3.950
Full Release
download
Summary
On June 10, 2026, Steadfast Group Limited announced it received a conditional, non-binding indicative proposal from Amwins Group, Inc. and Dragoneer Investment Group to acquire all its shares at A$6.00 per share via a scheme of arrangement. The proposal, which values Steadfast at approximately A$7.7 billion, offers a premium over its recent stock prices and will see Amwins and Dragoneer acquire different segments of Steadfast's operations. An exclusivity and process deed was signed, limiting Steadfast's ability to engage with other potential proposals during the exclusivity period, with exceptions for fiduciary duties. The transaction requires due diligence completion, regulatory approvals, and the Steadfast Board's recommendation.
Key Points
  • Steadfast Group Limited received an offer from Amwins Group, Inc. and Dragoneer Investment Group to acquire 100% of its share capital.
  • The offer is valued at A$6.00 per share in cash, subject to adjustments for dividends.
  • This proposal represents a significant premium over Steadfast’s recent share prices.
  • The deal is structured as a scheme of arrangement under the Corporations Act.
  • Amwins and Dragoneer plan to jointly pursue the transaction, with Dragoneer acquiring Steadfast’s retail brokerage and Amwins acquiring the underwriting agency business.
  • Steadfast entered into an exclusivity and process deed with the consortium to facilitate the proposal.
  • The exclusivity period includes no-shop, no-talk, and no due-diligence restrictions, except under certain fiduciary exceptions.
  • The proposal requires approval by Steadfast’s Board and relevant regulatory bodies.
  • J.P. Morgan and Citigroup have been appointed as financial advisers to Steadfast.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.