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Updated · Bloomberg · Jul 8Dream Finders Raises Beazer Bid to $875 Million as Rejected Offer Jumps 24%
1 articles · Updated · Bloomberg · Jul 8Summary
- $32 a share is Dream Finders Homes' new all-cash offer for Beazer Homes, lifting the proposed deal value to about $875 million.
- The revised bid is roughly 24% above Dream Finders' earlier $704 million proposal, which valued Beazer at $25.75 a share.
- Beazer had rejected that first approach as too low, prompting the Jacksonville, Florida-based homebuilder to return with a higher price.
- The increased offer signals Dream Finders is pressing to secure a takeover of its rival after its initial bid failed to gain traction.
Insights
With its own profits falling, can Dream Finders justify its high-stakes hostile takeover of a rival? As giant homebuilders merge, will the dream of affordable housing get closer or further away?