SWS Group Forms Special Committee To Review Hilltop Offer

(RTTNews) - SWS Group, Inc. (SWS) said Monday that its Board of Directors has formed a special committee, comprised of independent directors not affiliated with Hilltop Holdings Inc. (HTH) or Oak Hill Capital Partners, to review Hilltop's unsolicited acquisition proposal.

The members of the Special Committee are Robert Buchholz, Tyree Miller and Joel Williams III.

On January 10, 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, SWS Group noted.