This Will Be Very Tough for Dream Finders - A First Look at a Merger Model: DFH BZH
Download our working DFH BZH merger model
By reading this article and continuing to use this website, you acknowledge and agree to our Disclaimer and Terms. Nothing on this site constitutes investment advice. Investing involves risk, including possible loss of principal.
Dream Finders Homes (DFH) is acquiring Beazer Homes (BZH) for $33.50 a share in cash, roughly $2.2 billion with debt. Beazer’s board turned down a series of offers before this one, and the price climbed from $25.75 in early May to $33.50 by July.
The headline math ties cleanly. $33.50 on about 27.3 million shares is $916 million of equity. Add $1.44 billion of Beazer debt, subtract $125 million of cash, and you land at $2.23 billion, within a percent of the announced figure.
The payment part looks a bit precarious…