Why Beazer Homes Stock Was Zooming Higher This Week
Yahoo Finance ·
The latest developments in a long-running takeover saga helped lift Beazer Homes ( BZH +1.29% ) stock impressively as the week flew by. According to data compiled by S&P Global Market Intelligence , the company's shares were riding nearly 11% higher week to date as of Friday before market open. The other player in that drama is peer housing construction company Dream Finders Homes ( DFH 0.26% ) , which has been trying to get Bezer to agree to a deal since the beginning of this year. On Wednesday, it made its fourth offer public, with a bid of $32 per share for Beazer. Dream Finders didn't hesitate to mention that this was 24% above its previous offer, made in May. However, that bid followed a decline in Beazer's share price. Meanwhile, Dream Finders made three other bids -- $29 per share, offered in March and upgraded to $29.25 in June, and $28.50 per share in February. On Wednesday, Beazer quickly responded to Dream Finders' latest attempt. It said that since the May bid, it had attracted interest from other potential suitors, and added that management would be willing to begin takeover talks under three conditions it set with the June bid.
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