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.

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