Steadfast says the consortium bidding for the company is in the final stages of due diligence and an exclusivity period will be extended by two days to Friday.

The Amwins, Dragoneer and Kohlberg Kravis Roberts grouping has reconfirmed its intention to acquire Steadfast at $6 cash per share, valuing it at $7.7 billion including equity and debt.

“The consortium has confirmed to Steadfast that due diligence is now in the final stages and that the key commercial terms in the draft scheme implementation deed have been substantially agreed,” an update this morning says.

“To enable the parties to finalise transaction documentation, complete due diligence and obtain remaining approvals, the exclusivity period has been extended.”

Steadfast notes there is no guarantee a binding agreement will be reached with the consortium and no certainty the proposal will result in a transaction.

On August 3, the exclusivity period was extended to this Wednesday.

Under indicated arrangements, Dragoneer and Kohlberg Kravis Roberts will take over Steadfast’s retail brokerage business and Amwins its underwriting agencies.

The shares were up 4.8% at $5.58 in mid-afternoon trade after closing at $5.32 on Friday.