Key Developments: Cowen Group Inc (COWN.O)
2.81USD
17 May 2013
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Latest Key Developments (Source: Significant Developments)
Cowen Group Inc Completes Acquisition Of Dahlman Rose & Company, LLC
Cowen Group Inc announced that it completed previously announced acquisition of Dahlman Rose & Company, LLC (Dahlman Rose), a privately-held investment bank specializing in the energy, metals and mining, transportation, chemicals and agriculture sectors. Financial terms of the all-stock transaction were not disclosed. Full Article
Cowen Group Inc To Acquire Dahlman Rose & Co. LLC
Cowen Group Inc and Dahlman Rose & Company, LLC (Dahlman Rose) announced the signing of a definitive agreement under which Cowen will acquire Dahlman Rose, a privately-held investment bank specializing in the energy, metals and mining, transportation, chemicals and agriculture sectors. This acquisition is an all-stock transaction and financial terms of the deal were not disclosed. The definitive agreement was approved by the board of directors of both companies. The transaction, which is expected to close by the end of the first quarter of 2013. Willkie Farr & Gallagher LLP acted as legal advisor to Cowen on this transaction. Morgan Lewis & Bockius, LLP acted as legal advisor to Dahlman Rose for this transaction. Terms of the transaction were not disclosed. Full Article
Cowen Group Inc Completes Acquisition Of KDC Securities
Cowen Group Inc announced that it completed its previously announced acquisition of KDC Securities, a securities lending business. The transaction was completed on November 1, 2012. Full Article
Cowen Group Inc Agrees to Acquire KDC Securities
Cowen Group Inc announced its entry into a definitive agreement to acquire KDC Securities (KDC), a securities lending business. KDC is the broker-dealer subsidiary of Kellner Capital, LLC, an alternative investment manager. Following the closing of the transaction, KDC will operate as the Cowen Equity Finance Group and will be based in New York. Rory Zirpolo, the current head of KDC’s securities lending business, will serve as Managing Director and Head of the Equity Finance Group and will report to Cowen’s Co-Heads of Equities, Tom O’Mara and Dan Charney. The transaction, which is subject to certain regulatory approvals and customary closing conditions, is expected to close in the fourth quarter of 2012. Financial terms of the transaction were not disclosed. Full Article
Cowen Group, Inc. Agrees To Acquire Algorithmic Trading Management
Cowen Group, Inc. announced its entry into a definitive agreement to acquire Algorithmic Trading Management, LLC (ATM), a provider of global, multi-asset class algorithmic execution trading models. Following the closing of the transaction, ATM will continue to operate as a separate financial technology business offering broker neutral services to existing and future clients. The transaction, which is subject to certain regulatory approvals and customary closing conditions, is expected to close by the end of the first quarter or early second quarter of 2012. Financial terms of the transaction were not disclosed. Full Article
Cowen Group, Inc. Reaches Settlement With Former Shareholders Of LaBranche & Co Inc.
Cowen Group, Inc. announced that, as previously disclosed in its public filings, it has settled the shareholder litigation brought by former shareholders of LaBranche & Co Inc. (LaBranche) relating to the merger between LaBranche and Cowen, which was consummated on June 28, 2011. The settlement is subject to approval by the Supreme Court of the State of New York, County of New York. Full Article
Cowen Group, Inc. Appoints Jeffrey Solomon As Chief Executive Officer
Cowen Group, Inc. announced that, effective immediately, Jeffrey Solomon will assume the role of Chief Executive Officer (CEO) of Cowen and Company, the firm’s broker dealer platform. Full Article
Cowen Group, Inc. Announces Share Repurchase Program
Cowen Group, Inc. announced that its Board of Directors approved a share repurchase program that authorizes the Company to purchase up to $20 million of Cowen’s Class A common shares from time to time. The program permits the Company to purchase shares from time to time through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the Company to make any purchases at any specific time or situation. The program may be suspended or discontinued at any time. Full Article
Cowen Group, Inc. And LaBranche & Co Stockholders Approve Merger
Cowen Group, Inc. (Cowen) and LaBranche & Co Inc. announced that, at separate special meetings held on June 15, 2011, stockholders of both companies have voted to approve their merger. At the LaBranche stockholders meeting, more than 66% of the shares outstanding (more than 84% of the shares represented at the meeting were voted in favor of the adoption of the merger agreement between Cowen and LaBranche, constituting a majority of the outstanding LaBranche shares. At the Cowen stockholders meeting, more than 80% of the Cowen shares outstanding (more than 99% of the shares represented at the meeting) were voted in favor of the issuance of shares of Cowen Class A common stock to LaBranche stockholders pursuant to the merger agreement. The merger remains subject to the receipt of certain requisite regulatory approvals and as previously announced, the companies continue to expect the transaction to close in the late second quarter or early third quarter of 2011. Full Article
Cowen Group to buy Dahlman Rose & Co
NEW YORK - Cowen Group Inc has agreed to acquire privately held Dahlman Rose & Co LLC, adding the energy, metals and mining, transportation, chemicals and agriculture sectors to the boutique investment company's specialties.
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