Both players left Manchester United in the just concluded transfer window and moved to Serie A this season.
Lazio signed Pereira, who made more than 40 appearances for Manchester United last season, on an initial loan deal last month with an option to buy for a fee of €27m.
Smalling was linked with a move to Roma all summer and the deal just about got completed for a fee of €15m just a minute before the window closed in Italy.
But according to Italian outlet Calciomercato.com, both former Manchester United players were offered to AC Milan during the transfer window.
Smalling’s performance in Italy last season attracted the interested of the Rossoneri and he was offered to the Serie A giants.
But the defender was clear about his intention to join Roma and AC Milan concluded trying to change his mind was impossible.
Pereira was also offered to the Rossoneri, but AC Milan had their eyes set on Real Madrid’s Brahim Diaz.
The Rossoneri hierarchy chose to stick to their original plan rather than take the bait of signing the Brazilian midfielder, who ended up at Lazio.