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8-K - FORM 8-K - Hilltop Securities Holdings LLC | d8k.htm |
EX-99.2 - PRESS RELEASE OF SWS GROUP, INC. DATED MARCH 18, 2011 - Hilltop Securities Holdings LLC | dex992.htm |
Exhibit 99.1
SWS Group Confirms Receipt of Unsolicited Conditional
Proposal from Sterne Agee
SWS Shareholders Advised to Take No Action at This Time
DALLAS - March 17, 2011- SWS Group, Inc. (NYSE: SWS) today confirmed that it received an unsolicited conditional proposal from Sterne Agee to acquire the Company for $6.25 per share.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, SWS Groups Board of Directors will review the conditional proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders. The SWS Group Board will make its recommendation to shareholders in due course. SWS Group shareholders are advised to take no action at this time.
The Company has previously received a number of letters from Sterne Agee expressing its interest in a potential transaction. SWS Groups Board of Directors, after careful consideration of financial and legal advice, unanimously determined that these previous proposals were not in the best interests of SWS Group or its shareholders.
Sandler ONeill + Partners, L.P., is serving as financial advisor to SWS Group, and Andrews Kurth LLP is serving as its legal advisor.
About SWS Group
SWS Group, Inc. is a Dallas-based 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., a national clearing firm, registered investment adviser and registered broker-dealer; SWS Financial Services, Inc., a registered investment adviser and a registered broker-dealer serving independent securities brokers and their clients, and Southwest Securities, FSB, one of the largest banks headquartered in the Dallas-Fort Worth metropolitan area.
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Contact: | Ben Brooks, Corporate Communications | |
SWS Group, Inc. (214) 859-6351, bdbrooks@swst.com or Steve Frankel / James Golden
Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449 |