Bell Financial Group (ASX:BFG) entered a scheme implementation deed to acquire Selfwealth (ASX:SWF) for AU$0.25 per share, valuing the trading platform at about AU$57.7 million, according to a Monday filing with the Australian bourse.
The acquisition will be structured as a scheme of arrangement, with shareholders offered cash, scrip, or a mix, with scrip capped at 50% of the total scheme consideration, the filing said.
Bell Financial expects the deal to boost its online broking business, adding 130,000 active portfolios and increasing sponsored holdings to AU$94 billion. The acquisition is projected to be accretive to earnings per share post-integration.
The scheme meeting of Selfwealth shareholders is set for March 2025.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.