Feb 24 (Reuters) – Canada’s Toronto-Dominion Financial institution (TD.TO) has obtained all regulatory approvals to finish its $1.3 billion acquisition of New York-based boutique funding financial institution Cowen Inc (COWN.O), the businesses stated on Friday.
The deal is anticipated to shut on March 1, they stated.
TD introduced the buyout in August, constructing on its technique to broaden in the US. Final February, the Canadian lender had signed a $13.4 billion deal to purchase U.S.-based First Horizon Corp (FHN.N).
The First Horizon deal is now anticipated to shut on Could 27, three months later than the deadline the businesses had set.
Cowen gives funding banking, analysis, gross sales and buying and selling and prime brokerage providers.
Final week, Cowen reported an 82% drop in fourth-quarter web revenue as funding banking took a success.
Reporting by Niket Nishant in Bengaluru; Enhancing by Sriraj Kalluvila
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