Just prior to announcement of the offer, WMI was trading at S52 per share and SMI was trading at $ 74 per share (the offer was at an approximately 40% premium to SMI's share price)
• WMI and SMI both do not pay dividends
• We expect that the. offer will be accepted by SMI shareholders and will be completed in the next 2 to 3 months
• Post announcement, WMI is trading at $ 50 per share and SMI is trading at $95 per share.