Australia's Steadfast hits one-month high as KKR joins $5.3-billion buyout consortium

Steadfast

14/07/2026 03:36

** Shares of Australia's Steadfast Group SDF.AX rise as much as 2.31% to A$5.31, their highest level since June 11
** Shares mark their strongest intraday pct gain since June 25 
** The insurance broker says U.S.-based investment firm KKR & Co KKR.N has joined a consortium of specialty insurance distributor Amwins Group and investment company Dragoneer Investment Group, which had previously offered to acquire Steadfast
** Deal values Steadfast at A$7.7 billion ($5.33 billion) in cash
** Adds Amwins and Dragoneer have confirmed that KKR's participation will not impact the transaction timetable to which the parties are currently working
** Stock down 0.3% YTD, including session's moves


($1 = 1.4453 Australian dollars)

 (Reporting by Subhalakshmi Dey)
 ((Subhalakshmi.Dey@thomsonreuters.com;))