Questionable Deal - SWS shareholders get short end of stick
1) Acquisition price too low due to HTH influence and larger stake in SWS.
2) Where were the independent advisors hired by SWS? The SWS "independent" advisors goal was to save HTH as much $ as possible and NOT about maximizing shareholder value.
3) Lack of independence in the deal in general.
4) Good ole boy network paid off execs but screwed shareholders.
5) Why does it appear that HTH was allowed to pay what they wanted for SWS?
6) Deal way too dependent on HTH stock price (.2496 shares of HTH) with no clarity of closing. SWS shareholders stand to lose millions if HTH shares were to have a normal pullback from here. The HTH statement of having the deal close by the end of year is unacceptable to shareholders. i.e. Memories of Dow Chemical / Rohm and Haas acquisition
7) Deal announced shortly after the Barrons article which popped HTH stock. Good chance of pullback after pop and causing SWS shareholders even more losses.
8) Never understood why all the law firms go after these bad deals but apparent now?
Bottom line....HTH is a good partner for the SWS but somewhere in the process the HTH/SWS executives forgot who actually owns SWS - THE SHAREHOLDERS....76%+ of the company was without a voice!