IT services provider DWS has dropped out of the race to buy competitor SMS Management and Technology, leaving one remaining bidder, Japan's Nomura Research Institute-owned ASG Group.
The decision from DWS not to submit a counter offer comes after SMS delayed a shareholder vote on the acquisition offer from DWS, awaiting a bid it believed would be superior from ASG.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
