MDS Financial Group (ASX:MWS) has been granted a trading halt by the ASX pending the release by it of an announcement on an signing of a binding offer for MWS to acquire Sequoia Financial Group Ltd.
MDS is looking to acquire 100% of Sequoia.
Sequoia delivers financial products and services to self-directed investors, SMSF Trustees and their advisers through its wholly-owned subsidiaries, Sequoia Superannuation Pty Limited, Sequoia Asset Management Pty Limited and Sequoia Specialist Investments Pty Limited.
These businesses provide general advice to retail clients, originate structured financial products, and provide administration services to self- managed superannuation funds.
The halt will remain in place until the opening of trade on Wednesday 15th October 2014, or earlier if an announcement is made to the market.
