Cowen Rallies On Reports Of Possible Acquisition

Shares of brokerage firm Cowen Inc. (COWN) are up more than 21% Tuesday morning after a Bloomberg report said that Toronto-Dominion Bank is considering to acquire Cowen.

The Toronto-based Bank is working with advisers to study a possible transaction for Cowen, Bloomberg said, citing people familiar with the matter.

COWN, currently at $29.14, has been trading in the range of $21.36-$42.20.

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