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.