Business

TD buys Cowen for $1.3 billion to strengthen financial markets

Toronto-Dominion Bank agreed to buy american brokerage Cowen inc. for $1.3 billion in cash, bolstering its presence in U.S. financial markets just months after securing a landmark deal to expand its retail operations in the country.

Toronto-Dominion agreed to pay $39 per share, according to a statement Tuesday. The acquisition is expected to be “moderately accretive” to adjusted earnings per share next year, the Toronto-based company said. Bloomberg News reported last month that the bank was weighing the case.

Source

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button