BFG to acquire SelfWealth

Bell Financial Group has made a non-binding offer to acquire SelfWealth.

Bell announced to the Australian Securities that following constructive engagement with SelfWealth it had made a non-binding proposal to acquire 100% of the company for $0.22 per share by a scheme of arrangement valuing SelfWealth at around $51 million.

The ASX announcement said the SelfWealth board had agreed to progress negotiations of a binding implementation deed on an exclusive basis and to unanimously recommended shareholders vote in favour of the proposal in the absence of a superior offer.