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TD Bank nears deal to buy Cowen

Toronto-Dominion Bank is close to a billion-plus deal to buy an investment bank cowen according to people familiar with the matter.

A deal valuing Cowen at around $39 a share could be unveiled as early as Tuesday, assuming the talks don’t collapse, the people said. Shares of New York-based Cowen closed Monday at $35.49, giving it a market value of more than $900 million, while that of TD Bank is well over $100 billion.

wsj

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