Keefe, Bruyette & Woods Comments On Cowen Group (COWN)

Keefe, Bruyette & Woods commented on Cowen Group COWN in a research report published today. Keefe, Bruyette & Woods has previously given Cowen Group a price target of $4.90 and Market Perform rating. In the report, Keefe, Bruyette & Woods states, "Cowen and LaBranche announced an agreement to merge creating a firm with an expansive combined capital base in a consolidating industry. The combined firm will leverage LAB's proprietary trading technology and electronic trading capabilities with Cowen's research and sales and trading operations. The deal is expected to close in 2Q11 or early 3Q11, there is a disclosed break-up fee of $6.3 million, but no 'go shop' provision." Shares of Cowen Group closed Thursday at $4.39, reflecting no change from Wednesday's market close.