Steadfast’s offer for Insurance Brokers Network Australia (IBNA) is set to close tonight, with acceptances well above the deal threshold level as of Thursday.

The company said last week that all offer conditions had been met and it had voting power in 94.03% of IBNA shares.

If no further acceptances are received, there will be 849.7 million Steadfast shares on issue following the offer for the broking group, up from 829.6 million on Friday.

In July Steadfast estimated the bid could cost $69 million, based on 100% acceptance, a weighted average share price of $3.28, and the preliminary estimation of professional service fees.

IBNA members are moving to Steadfast after ending the 12-year AIMS joint venture with AUB’s Austbrokers.