Kaufman & Broad SA, the French homebuilder KB Home sold to PAI Partners earlier this week, said it plans to hire an independent consultant to assess an offer to buy out shareholders at a price that is below market value.

In a statement, the homebuilder said that it would name the consultant next week.

PAI agreed to pay $74.24 per share for Los Angeles-based KB’s 49 percent stake, about 11 million shares, in the homebuilder. That was 3.5 percent more than the firm’s original offer but still more than 9 percent off of the closing price May 16, the day after the offer was announced.

Los Angeles-based KB Home is selling its stake to exit the slumping French market, which has been stung by higher borrowing costs, rising prices and reduced tax breaks for new homeowners. KB said that by selling the homebuilder, France’s largest, so it will be able to concentrate solely on the U.S. housing market.

PAI, which outbid two other rivals to acquire the stake, said it intends to offer the same terms to shareholders, as required under French takeover rules. Kaufman & Broad’s Chief Executive Guy Nafilyan said he supports the buyout firm’s bid and added that there will be no change in the company’s strategy.

Shares in KB Home were down 34 cents to $46.17 in afternoon trading Friday on the New York Stock Exchange.