Smartgroup (ASX: SIQ) today announced that they have received "an indicative, non-binding and conditional proposal...an indicative, non-binding and conditional proposal...to acquire 100% of the shares in Smartgroup" from a consortium with which Aware Super will participate "as an equity co-investor". Smartgroup is recommending that its shareholders accept this offer (which remains subject to the bidder's exclusive due diligence).
Why might this be important to Wisr?
In mid-2019, Wisr signed a three-year agreement with Smartgroup to partner on the distribution of Wisr’s ecosystem of financial wellness products. Smartgroup's acquisition by a consortium aligned to Aware Super could provide Wisr with improved access to Aware's over 1 million members.
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