© 2014 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
(April 2) – When the general counsel of Hilltop Holdings and SWS Group decided to enter merger discussions, both turned to elite law firms in New York instead of Texas to be their legal advisors.
Hilltop GC Corey Prestidge, an SMU Dedman Law School alum and former assistant general counsel for Mark Cuban Companies, hired Wachtell, Lipton, Rosen & Katz to lead its legal work.
SWS GC Allen Tubb turned to Davis Polk & Wardwell.
Both Hilltop and SWS are Dallas-based companies. Hilltop Holdings is the parent of Plains Capital Bank. SWS is the parent of Southwest Securities.
“This transaction creates the leading Texas-based broker/dealer and provides PlainsCapital Bank access to a significant source of additional core deposits,” said Hilltop Chairman Gerald J. Ford. “The merger will bolster our market share and scale for many business lines within our broker/dealer, as well as our deposit market share in Dallas/Fort Worth.”
The merger is expected to be completed by the end of the year.
© 2014 The Texas Lawbook. Content of The Texas Lawbook is controlled and protected by specific licensing agreements with our subscribers and under federal copyright laws. Any distribution of this content without the consent of The Texas Lawbook is prohibited.
If you see any inaccuracy in any article in The Texas Lawbook, please contact us. Our goal is content that is 100% true and accurate. Thank you.