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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.