News: DWS SMS Management & Technology receives expression of interest from ASG Group, page-5

  1. 114 Posts.
    Its not fishy at all Liam. The terms of the Offer made by DWS prevented SMS from running around to solicit a better offer. Hence any counter-offer from someone like ASG had to be made as 'unsolicited and non-binding' because a) ASG had to make the approach, and b) ASG would still need access to the data room before they made a binding bid.

    I would imagine that ASG have now been given access to the data room, and are in the process of modifying their bid to 'binding'.

    The SMS Board really cannot ignore an all-cash offer which is superior ($1.80). The SMS Board would be at personal risk if the ASG offer wasn't fully explored.

    So things are definitely not in the same position as last week. But in saying that, the DWS offer is so advanced, it's surprising that ASG are being so bold. SMS is a people business - where are their hearts and minds at the moment I wonder?
 
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