KPMG: DWS’ buy of SMS is in best interest

Company News

by Jessica Amir

An independent expert has advised that the proposed purchase to buy 100% of the issued shares in SMS Management & Technology Limited (ASX:SMX) by DWS Limited (ASX:DWS) is in the best interests of SMS shareholders.

KPMG gave the expert advice, noting there were no superior proposals.

The Supreme Court of Victoria has also ordered a meeting of SMS shareholders to consider and vote on the Scheme of Arrangement involving the purchase.

If the Scheme, or proposed purchase is approved, SMS shareholders will receive $1 in cash and 0.39 DWS shares.

The Scheme meeting where shareholders will cast their votes is on 14 June 2017.

Shares in SMS Management & Technology Limited (ASX:SMX) last traded flat at $1.59.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.