By Vincent Salandro | Builder
Dream Finders Homes has submitted a revised proposal to the board of directors of Beazer Homes to acquire all outstanding shares of Beazer, offering $32 per share in cash.
The latest proposal is approximately 24% higher than Dream Finders’ previous public offer of $25.75, announced in May. Prior to its public proposal, Dream Finders had privately offered $28.50 in February and $29 per share in March, both of which Beazer rejected. Dream Finders subsequently increased its private proposal to $29.25 per share on June 22 before submitting its latest public bid.
According to Dream Finders, the $32-per-share offer represents a premium of approximately 70% to Beazer’s undisturbed share price of $18.77 on May 8 and a premium of 56% to Beazer’s undisturbed 30-day volume-weighted average price of $20.48 as of the same date.
