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TD Bank Group snaps up Cowen Inc. in $1.3bn takeover

Post-closing, parts of the combined business will be known as TD Cowen, a division of TD Securities.

By TTC Newsroom

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August 02, 2022 | 11:18 PM BST

TD Bank Group snaps up Cowen Inc. in $1.3bn takeover

Bharat Masrani, Group President and CEO, TD Bank Group. Source: TD

TD Bank Group (TD) (TSX: TD) and (NYSE: TD) and Cowen Inc. (Cowen) (NASDAQ: COWN) have entered into a definitive agreement for TD to acquire Cowen in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of Cowen common stock.

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