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Amwins and Dragoneer due diligence nears end in Steadfast buyout
The exclusivity period has been extended to August 21, 2026, as the consortium seeks remaining approvals and transaction documentation for its A$6.00-per-share cash offer.
Steadfast Group, an Australian insurance broker, said that Amwins Group and Dragoneer Investment Group have confirmed due diligence for the proposed acquisition is in its final stages and that key commercial terms of the draft Scheme Implementation Deed have been substantially agreed, according to Reinsurance News.
In June 2026, Steadfast received a conditional, non-binding and indicative offer from the consortium to acquire 100% of its outstanding share capital for A$6.00 per share in cash, valuing the company at approximately A$7.7 billion.
The consortium plans to proceed jointly, with Dragoneer acquiring Steadfast’s retail brokerage business and Amwins taking the underwriting agency business. KKR also joined the consortium in July 2026 as a co-lead investment partner with Dragoneer in the retail brokerage business.
To finalize transaction documentation, complete due diligence, and obtain remaining approvals, Steadfast said the exclusivity period has been extended to August 21, 2026. The Steadfast board noted there is no guarantee a binding agreement will be reached, and therefore no certainty the proposal will result in a transaction.