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Cowen closes acquisition of Convergex Group

Cowen Group Inc. has completed its acquisition of Convergex Group LLC for total consideration of $100.7 million, comprised of $53.1 million in cash and $47.6 million in Cowen common stock.

Covergex was renamed Cowen Execution Services LLC and its London-based brokerage, Convergex Ltd., was renamed Cowen Execution Services Ltd., effective immediately.