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Hilltop (Jerry Ford) buys Plains Capital

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Hilltop (Jerry Ford) buys Plains Capital

Postby Alaric » Wed May 09, 2012 9:42 am

By Steve Gelsi HTH

NEW YORK (MarketWatch) -- Hilltop Holdings Inc. /quotes/zigman/477258/quotes/nls/hth HTH +20.48% rose 11% in premarket trades Wednesday after the Dallas-based holding company for insurance providers set plans to buy PlainsCapital for $318 million in cash plus 27.5 million shares of its common stock worth $219 million based on Tuesday's closing price of $7.96 a share. PlainsCapital bills itself as a Texas bank holding company for PlainsCapital Bank, PrimeLending, and FirstSouthwest with 3,400 employees and locations in 40 states
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