The NSW Supreme Court has approved the timetable for the Count Financial takeover by Commonwealth Bank.

Count shareholders will receive the scheme booklet on the takeover this week with the meeting to approve the takeover scheduled for November 25.

The booklet will also contain an independent expert’s report which has declared the deal “in the best interests of Count shareholders and option-holders”.

Subject to shareholder approval, a Supreme Court hearing is scheduled for November 28 to confirm the deal.

Count shares will be suspended from the Australian Securities Exchange on November 29 and the takeover will be finalised on December 9.

Meanwhile, Matrix Financial Solutions has become the latest dealer group to be put up for sale.

The group is seeking an investor to buy the business to help it deal with the looming Future of Financial Advice changes. It is expected one of the big four banks will be a potential suitor.

Matrix was formed in 1999 and has 108 advisers with $42 million of inforce life insurance premiums. 

Last week also saw IOOF complete its takeover of listed financial planning group DKN Financial Group.