SelfWealth (ASX:SWF) said that the Federal Court of Australia made orders that the firm hold a meeting on March 28 to consider and vote on Bell Financial Group (ASX:BFG)'s bid to acquire the firm for AU$0.25 cash per SelfWealth share, according to a Thursday Australian bourse filing.
It began the statutory process for the proposed scheme of arrangement with Bell.
It is also actively engaging with Svava in relation to its nonbinding indicative proposal by Svava for consideration of AU$0.28 cash per Selfwealth share.
The Svava bid remains nonbinding and indicative. If it results in a binding proposal, Selfwealth will be required by its scheme implementation deed with Bell to go through a matching rights process before it can accept or recommend Svava's proposal.
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