Ann: DWS not to lodge Counter Proposal for SMS acquisition, page-5

Judging from market caps and cash, I don't think there ever was a chance for a bidding war -- too bad for SMX holders.

Mr. Market seems to be frowning at the deal's failure. I believe this is a result of their belief that DWS is about fully valued in its current state, and; (wild speculation to follow) the market's thinking DWS may be that DWS is morphing into a dividend play without the word "growth" in their description. Therefore SMX was viewed as accretive, going straight to the "growth" aspect of DWS.

OV