ETFS Acquisition Corp. Proposes Merger With East Texas Financial Services Inc.

Business Wire | August 24, 1999 | Copyright

PARIS, Texas--(BUSINESS WIRE)--Aug. 24, 1999--

ETFS Acquisition Corp. ("Acquisition"), announced today its proposal to acquire East Texas Financial Services Inc. ("East Texas"), through a merger in which shareholders of East Texas would receive $16.00 per share in cash for each of their shares of Common Stock, representing an aggregate value to the shareholders of East Texas, excluding shareholders of Acquisition, of approximately $20 million. East Texas is the parent company of First Federal Savings & Loan Association of Tyler, Texas.

Acquisition is owned by William D. ...

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