Cowen Agrees To Acquire Concept Capital, Financial Terms Not Disclosed

(RTTNews) - Cowen Group, Inc. (COWN), a diversified financial services firm, and Concept Capital Markets, LLC Wednesday reported the signing of a definitive agreement for Cowen to acquire Concept Capital, an independent provider of prime brokerage services. Financial terms of the deal were not disclosed.

Cowen expects the acquisition to be accretive to earnings in 2015. The deal was approved by the board of directors of both companies, and it is expected to close in the third quarter of 2015.

Willkie Farr & Gallagher LLP acted as legal advisor to Cowen. Seward & Kissel LLP acted as legal advisor to Concept Capital on this transaction.