The SelfWealth (ASX:SWF) board recommended that shareholders vote in favor of the Bell Financial Group's (ASX:BFG) offer to acquire 100% of the company's shares in the absence of a superior proposal and taking into account an independent expert's evaluation, according to a Wednesday filing with the Australian bourse.
Bell Financial is acquiring the company's shares for AU$0.25 apiece, with a share consideration alternative at shareholders' election, through a scheme of arrangement, the filing said.
Shareholders will vote on the offer at a scheme of arrangement meeting, set to occur by March 2025, according to the filing.
The trading platform's shares fell nearly 4% in afternoon trade Wednesday.
Price (AUD): $0.25, Change: $-0.01, Percent Change: -3.85%
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