Sws Group Confirms Receipt Of Unsolicited
The following excerpt is from the company's SEC filing
DALLAS, January 10, 2014 SWS Group, Inc. (NYSE: SWS) today confirmed that it received an unsolicited acquisition proposal
from Hilltop Holdings Inc. (NYSE: HTH) 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.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, SWS Groups Board of Directors will
review the proposal to determine the course of action that it believes is in the best interests of the Company and its stockholders. The SWS Group Board will make its recommendation to stockholders in due course. SWS Group stockholders are advised
to take no action at this time.
SWS Group, Inc. is a Dallas-based holding company offering a broad range of investment and financial services through its subsidiaries. The
Companys 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.
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
Companys 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 Companys 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 Companys Annual Report on Form 10-K and in the Companys other reports filed with and available from the Securities and
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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Other recent filings from the company include the following:
SWS Group just filed a General Statement of acquisition of beneficial ownership - March 6, 2014