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Dream Finders raises its Beazer bid to $32 per share
Beazer says talks are stalled because Dream Finders would not accept a confidentiality and standstill term that would run for 12 months, while Dream Finders says it can sign an NDA immediately and accept a shorter standstill for due diligence.
Dream Finders Homes has increased its hostile offer for Beazer Homes to $32 per share in cash, a move it says is 70% above Beazer’s undisturbed May 8 share price and up from a prior $25.75 proposal it disclosed in May, HousingWire reports. The Atlanta-based homebuilder said Beazer has not rejected the offer, but negotiations remain blocked over the terms of a proposed confidentiality and standstill agreement.
In its July 8 response, Beazer said it is evaluating interest it has received from additional parties regarding potential transactions, and it is assessing those options alongside its standalone strategy. Beazer also disclosed that it previously set three conditions for opening discussions, including raising the price, dropping a demand for exclusive negotiations, and signing a customary confidentiality and standstill agreement, according to HousingWire.
HousingWire reports that the dispute now centers on the standstill restriction’s length. Dream Finders said it is prepared to execute a non disclosure agreement immediately and would accept a limited standstill to allow due diligence, but it would not agree to a 12 month restriction that would limit its ability to return to direct engagement with Beazer shareholders or nominate directors for election at Beazer’s 2027 annual meeting.
As a result, the next stage of the takeover contest depends less on whether Dream Finders will keep bidding and more on what rules govern its ability to pursue shareholders or board participation if due diligence does not lead to a negotiated deal, HousingWire said.