Why Shares of Cowen Popped Today

·2 min read

Shares of the investment bank Cowen (NASDAQ: COWN) have surged nearly 25% as of 10:45 a.m. ET today after media outlets reported that Toronto-Dominion Bank (NYSE: TD) is considering an acquisition of the company. Citing anonymous sources, Bloomberg recently reported that TD has met with advisors to consider purchasing Cowen. The sources also added that a formal decision has not been made yet.

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