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Tuesday, February 04, 2014 12:45:31 AM
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.
http://www.prnewswire.com/news-releases/sws-group-forms-special-committee-to-review-hilltop-holdings-unsolicited-acquisition-proposal-243383921.html
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