Steadfast Group's Potential Acquisition by Amwins-Dragoneer Consortium Would Be at Cyclically Depressed Multiple, Jarden Says

MT Newswires Live

Jun 11

Steadfast Group's (ASX:SDF) potential acquisition by the Amwins-Dragoneer consortium means the consortium would be capturing Steadfast at a cyclically depressed multiple even with the large headline premium, Jarden said in a Wednesday note.

The company confirmed a conditional, non-binding indicative proposal from a consortium of Amwins and Dragoneer, Amwins' largest shareholder, to acquire 100% of Steadfast at AU$6 cash per share via a scheme of arrangement.

The AU$6 bid implies a take-out multiple of around 20.7x fiscal 2026 earnings-per-share estimates, below the last two broker schemes. The bid supports sector valuations.

The investment firm retained its overweight rating on Steadfast Group and raised the price target to AU$5.90 from AU$5.65.

Steadfast Group's shares shed nearly 2% in recent Thursday trade.

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