Bell Financial Group's acquisition proposal

Bell Financial Group (ASX:BFG) has made a non-binding offer to acquire SelfWealth Ltd (ASX:SWF) for $0.22 per share. This acquisition values SelfWealth at approximately $51 million. The proposal aims to be executed through a scheme of arrangement, and the SelfWealth board plans to negotiate exclusively with BFG.

Overview and implications of Bell Financial Group's proposal

Bell Financial Group's acquisition proposal for SelfWealth is a strategic move to enhance its online broking business and achieve cost synergies. The transaction would add nearly 130,000 active portfolios and increase BFG's sponsored holdings by $11 billion, bringing the total to $94 billion. The SelfWealth board intends to recommend the proposal to shareholders, pending no superior offer. BFG offers a scrip alternative, providing SelfWealth shareholders the option to receive BFG shares instead of cash. The proposal remains non-binding, requiring shareholder and court approval, among other conditions. The companies have an Exclusivity Deed for negotiation over three weeks, with a possibility of extension. BFG is committed to keeping the market updated on this matter.

Executive commentary on acquisition proposal

The integration is anticipated to proceed smoothly with minimal client disruption due to the similarities between the two companies. We are enthusiastic about integrating SelfWealth's clients and team, highlighting the prospect of a superior user experience and broader product access.