Steadfast Group

Steadfast increased adjusted NPAT in FY 2026 by 8.2% to AUD 319.5m, adjusted EBITA by 13.8% to AUD 669.8m and revenue by 15.3% to AUD 2.1bn. Growth was driven particularly by the broker network, underwriting agencies, international operations, as well as acquisitions and equity investments; gross written premiums in the network rose to AUD 13.2bn. Management expects adjusted EBITA of AUD 700–715m and NPAT of AUD 333–343m for FY 2027, assuming a modest premium recovery of 2–3%. The share showed little reaction, while risks include weak pricing conditions, integration challenges from acquisitions and uncertainty from a proposed takeover offer. » Mere på de.investing.com

Steadfast Group has agreed to a takeover from a consortium backed by Dragoneer and KKR called Starboard BidCo, which will acquire all shares for AUD 6 per share in cash. The transaction, worth about AUD 7.7 billion, provides for Amwins Australasia to take over the underwriting business after completion while the bidder retains the broking business. The offer represents a 51.9% premium to the unaffected closing price; the board recommends approval subject to conditions, and the deal is subject to shareholder, court and multiple regulatory approvals; there are no financing conditions. » Mere på de.investing.com

Steadfast said a consortium led by US investors — Amwins Group, Dragoneer Investment Group and KKR — has reaffirmed its A$6.00 per-share takeover offer (A$7.7bn / US$5.41bn). The parties have largely completed due diligence and extended the exclusivity period to Aug. 19 to finalise transaction documents and remaining checks. Steadfast shares rose about 4.8% to A$5.355, the highest level since June 11. » Mere på de.investing.com