Welcome!

News Feed Item

Esposito Global Announces Proposal to acquire SWS Group, Inc. (NYSE: SWS) at $8.00 a Share in Cash

DALLAS, Feb. 18, 2014 /PRNewswire/ -- Esposito Global notified the Special Committee of Board of Directors of SWS Group, Inc. (NYSE: SWS) on February 12, 2014, that it is prepared to make a proposal, subject to certain conditions, to acquire all the outstanding common shares of SWS in a business combination at a price of $8.00 a share in cash.  Esposito Global is a rapidly growing, fast-paced, technology-driven firm whose mission is to provide exemplary products and services to their clients. Esposito Global strives to earn and maintain the trust of clients and employees through dedication to their core values of integrity, commitment, respect, and innovation. Esposito is in the midst of expansion in virtually every segment of the company to accommodate the rapid organic growth of its client base and acquisition strategy. 

The proposal from Esposito Global represents a 32% premium above the closing price of SWS common stock of $6.06 on January 9, 2014, the last business day prior to the public announcement that Hilltop Holdings Inc. had made an offer to acquire SWS on January 10, 2014.   In addition, Esposito Global's proposal represents a 14.3% premium above the price currently offered by Hilltop, as set forth in its Schedule 13D filed with the Securities and Exchange Commission. Esposito believes its proposal clearly represents an attractive value realization event for the shareholders of SWS.  Moreover, the consideration offered under the proposal would be payable entirely in cash at the closing of the business combination.

The proposal from Esposito Global is subject to certain conditions, including completion of customary due diligence, arranging for outside financing, negotiation of definitive agreements and receipt of required governmental and third party approvals. 

About Esposito Global

Esposito Global is the corporate brand for the Esposito family of financial services companies. Its affiliates include Esposito Securities, Esposito Partners, and Esposito Private Equity Group.  Esposito Securities was founded in 2006 and serves institutional investment clients worldwide.  Mr. Mark A. Esposito leads Esposito Global and we believe that the businesses of Esposito and SWS have significant overlap and offer tremendous opportunity for further growth.  Mr. Esposito previously served a five-year tenure at SWS and originally came to Dallas to start the SWS portfolio trading business.  We believe that he has a deep knowledge of SWS and the industry in which it participates and knowledge would facilitate the structuring and consummation of this transaction and be a catalyst to effect positive change for both companies and their employees.  To experience the Esposito commitment to customer service and for further information on our products and services, please contact us at [email protected] or visit www.espositoglobal.com.

About SWS Group, Inc.

As described in its public filings, SWS Group, Inc. is a publicly traded, Dallas based company that was originally established as a broker-dealer in 1972. Since its inception, SWS has expanded its business segments and currently functions in the areas of retail brokerage, securities clearing, institutional brokerage, and banking and has provided industry leading services for RIAs and other broker-dealers throughout its existence. These subsidiary companies exist as Southwest Securities, Inc., SWS Financial Services, Inc., and Southwest Securities, FSB. Collectively, they make up one of the region's leading securities firms.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which may be may be identified by the context in which the statements are made and generally arise when Esposito Global is discussing its beliefs, estimates or expectations regarding future events.  Forward-looking statements include, but are not limited to, statements regarding proposals, plans and intentions of Esposito Global, the steps that would be taken to effect a business combination between Esposito Global and SWS Group, Inc. and the benefits expected to be derived from such a business combination. These statements represent only Esposito Global's beliefs at the time the statements were made, and are subject to certain risks, uncertainties and other factors. Actual future events and outcomes may differ materially from what is expressed, anticipated or forecast in such forward-looking statements.  Certain factors will could affect the forward-looking statements in this this press release include the nature of any response received from SWS regarding the proposed business combination, the results of any due diligence review that may be undertaken by Esposito Global, the satisfaction of conditions to which the proposal is subject and market and other factors, many of which are outside the control of Esposito Securities.  Except as required by law, Esposito Securities undertakes no duty to update any forward-looking statement to reflect future events, events or developments relating to the subject matter of this press release.

SOURCE Esposito Global

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.