Australia's Steadfast rises on consortium reaffirming buyout proposal

Steadfast

09/07/2026 01:50

** Shares of Steadfast Group SDF.AX rise as much as 1.4% to A$5.22, set for their strongest intraday trading session since June 18
** Stock marks fifth straight session of gains
** Amwins Group and Dragoneer Investment reaffirmed takeover proposal valuing insurance broker at A$7.7 bln ($5.34 bln)
** Reaffirmation of proposal prompted a four-week extension of exclusivity period
** Current bid marks third and highest approach after earlier offers failed to secure an agreement
** Session's gains cut stock's YTD losses to 1.4%
     
($1 = 1.4415 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))