Dream Finders Homes Offers $704 Million to Buy Rival Beazer (2)

Dream Finders Homes Inc. submitted a $704 million offer to acquire rival homebuilder Beazer Homes USA Inc., which rejected the bid as too low.

Jacksonville, Florida-based DFH is offering $25.75 per share in cash for Beazer, according to a statement Monday that confirmed an earlier Bloomberg News report.

The bid represents a roughly 40% premium to Beazer’s closing price on May 5, the day on which DFH submitted the offer to the target’s board, the statement shows.

Beazer rose 34% to close at $25.16 in New York trading Monday, giving the company a market value of about $688 ...