Australian insurance broker Steadfast Group has agreed to a A$7.7 billion ($5.52 billion) takeover by a consortium backed by KKR. Amwins Group will acquire its underwriting agency business, while Dragoneer Investment Group will take control of the broking operations. Shareholders will receive A$6 per share, representing nearly a 52% premium to the June 9 closing price. The board unanimously recommends the scheme, subject to no superior proposal and an independent expert finding it in shareholders’ best interests, with implementation targeted for December. The deal comes amid a broader wave of Australian public-to-private transactions, as foreign buyers and private-equity firms pursue listed financial-services companies.