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
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In the rush to compete in the digital age, a successful digital transformation is essential, but many organizations are setting themselves up for failure. There’s a common misconception that the process is just about technology, but it’s not. It’s about your business. It shouldn’t be treated as an isolated IT project; it should be driven by business needs with the committed involvement of a range of stakeholders.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that AppNeta, the leader in performance insight for business-critical web applications, will exhibit and present at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. AppNeta is the only application performance monitoring (APM) company to provide solutions for all applications – applications you develop internally, business-critical SaaS applications you use and the networks that deli...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
In his session at 18th Cloud Expo, Andrew Cole, Director of Solutions Engineering at Peak 10, will discuss how the newest technology advances are reducing the cost and complexity of traditional business continuity and disaster recovery solutions. Attendees will: Learn why having a full disaster recovery strategy is more important now than ever before Explore the key drivers of a successful disaster recovery solution Achieve measurable operational and business value from a disaster recovery ...
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...