SelfWealth (ASX:SWF) has received a non-binding indicative proposal from Bell Financial Group Limited (ASX:BFG) to acquire 100% of its shares for $0.22 each. Shareholders have the choice to receive either cash or Bell shares. An Exclusivity Deed has been signed, granting Bell exclusive negotiation rights.
SelfWealth has entered into an Exclusivity Deed with Bell Financial Group, who has proposed to acquire all shares at $0.22 each, offering a significant premium. The proposal is valued at approximately $51 million and offers shareholders cash or share options. The Board views the proposal favorably, subject to the absence of superior offers. This acquisition aligns with Bell's strategy to expand its Technology & Platforms business, potentially increasing its market presence significantly by incorporating SelfWealth's client base and technology. The proposal awaits further shareholder actions and approval conditions.
The SelfWealth Board finds the proposal attractive and intends to recommend it to shareholders, subject to no superior proposal emerging.