Further terms of the transaction have not been disclosed, however, the firms said that the acquisition is an all-stock transaction.
Commenting on the deal, Dahlman Rose CEO Robert Meier said that the acquisition will provide greater benefit to its customers, while adding breadth of Cowen’s product offerings as well as the strength and stability of their platform.
Pending receipt of customary closing conditions and regulatory approvals, the transaction is likely to complete by the end of the first quarter of 2013.
Willkie Farr & Gallagher served and Morgan Lewis & Bockius served as legal advisors to Cowen and Dahlman Rose on the transaction, respectively.
A research-driven investment bank, Dahlman Rose offers institutional sales and trading, equity research, mergers and acquisitions advisory, and underwriting services.
Established in 1918 and headquartered in New York, Cowen Group together with its consolidated subsidiaries delivers alternative investment, investment banking, research, and sales and trading services through its two business segments.
