Cowen Group Announces Acquisition of Convergex
Cowen Inc. - Class A (COWN)
Last cowen inc. - class a earnings: 4/29 07:01 am
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US:NASDAQ Investor Relations:
investor.cowen.com/investor-overview
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Source: Business Wire
Transaction Significantly Enhances Cowen’s Brokerage and Trading Services Business Uniting Businesses Establishes Cowen as the Leading Independent Trading Platform in Equities with High Quality Research and Best-In-Class Global Execution Capabilities NEW YORK--(BUSINESS WIRE)-- Cowen Group, Inc. (NASDAQ:COWN) (“Cowen” or the “Company”) today announced the signing of a definitive agreement under which Cowen will acquire Convergex Group, LLC (“Convergex”) from private equity firm GTCR, Bank of New York Mellon, and other shareholders, for a total consideration, less certain closing adjustments, of $116 million in cash and Cowen common stock. Upon closing, the transaction will position Cowen as the leading independent trading platform in equities with high quality research and best-in-class global execution capabilities. With combined pro forma brokerage execution revenues of over $400 m
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