Australia's Selfwealth eyes best day in 3-1/2 years after rejecting acquisition offer

Selfwealth

13/10/2023 02:14

** Shares of Australia's Selfwealth  SWF.AX  rise 25% to
A$0.175 - set for best day since April 28, 2020, if current
gains hold 
    ** Stock hits highest level since June 6 
    ** Flat fee brokerage service co says it had received a
confidential proposal from Stakeshop to acquire co, but board
decided it was not in the best interest of SelfWealth 
    ** Adds cash price of 17.5 Au cents per share did not offer
appropriate value to Selfwealth shareholders
    ** Stock had fallen 30% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))