DALLAS, Feb. 3, 2014 /PRNewswire/ -- SWS Group, Inc.
(NYSE: SWS) today announced that its Board of Directors has formed
a Special Committee, comprised of independent directors not
affiliated with Hilltop Holdings Inc. (NYSE: HTH) or Oak Hill
Capital Partners, to review Hilltop's unsolicited acquisition
proposal. The members of the Special Committee are Robert A. Buchholz, Tyree B. Miller and Joel
T. Williams III.
As previously announced, on January 10,
2014, SWS Group received an unsolicited acquisition proposal
from Hilltop to acquire the outstanding common stock that Hilltop
does not already own for $7.00 per
share in 50% cash and 50% Hilltop common stock.
The Special Committee has appointed Sandler O'Neill + Partners,
L.P. as its independent financial advisor and Davis Polk & Wardwell LLP as its independent
legal advisor. The Special Committee will, among other things,
carefully evaluate Hilltop's unsolicited proposal and make a
recommendation to the Company's Board of Directors.
There can be no assurance that a transaction with Hilltop or any
other party will be approved or consummated. The Company does not
intend to disclose developments regarding these matters unless and
until a determination is made that disclosure is necessary or
appropriate.
About SWS Group
SWS Group, Inc. is a Dallas-based holding company offering a broad
range of investment and financial services through its
subsidiaries. The Company's common stock is listed and traded on
the New York Stock Exchange under the symbol SWS. SWS Group, Inc.
subsidiaries include Southwest Securities, Inc., SWS Financial
Services, Inc., and Southwest Securities, FSB.
Forward-Looking Statements
This news release contains
forward-looking statements. Readers are cautioned that any
forward-looking statements, including those predicting or
forecasting future events or results, which depend on future events
for their accuracy, embody projections or assumptions, or express
the intent, belief or current expectations of the company or
management, are not guarantees of future performance and involve
risks and uncertainties. Actual results may differ materially as a
result of various factors, some of which are out of the Company's
control, including, but not limited to, volume of trading in
securities, volatility of securities prices and interest rates,
liquidity in capital and credit markets, availability of lines of
credit, customer margin loan activity, creditworthiness of the
Company's correspondents, trading counterparties and customers,
demand for housing, general economic conditions, especially in
Texas and New Mexico, changes in the commercial lending
and regulatory environments and other factors discussed in the
Company's Annual Report on Form 10-K and in the Company's other
reports filed with and available from the Securities and Exchange
Commission.
SOURCE SWS Group, Inc.