Dream Finders Homes (DFH) increased its all-cash offer to acquire Beazer Homes (BZH) to $32 per share. This bid represents a 24% increase from the previous public offer. Dream Finders previously bid $25.75 per share in May. The new price carries a 70% premium over Beazer’s closing price on May 8.
Beazer’s board stated the $32 offer still undervalues the company. Negotiations stalled after Dream Finders refused to sign a mandatory standstill agreement. Dream Finders took the offer public to apply pressure on Beazer’s leadership.
Beazer confirmed it has received interest from other potential buyers. Beazer’s stock price jumped significantly following the announcement of the sweetened bid.