FTC Clears Cowen's $192M LaBranche Buyout

Law360, New York (April 8, 2011, 11:44 AM EDT) -- The Federal Trade Commission on Friday gave Cowen Group Inc. the go-ahead for its $192.8 million acquisition of LaBranche & Co.

The FTC granted Cowen early termination of the customary 30-day antitrust review, finding that the all-stock deal, first announced in February, poses no threat to competition in the financial services sector.

Under terms of the deal, which is expected to close by the end of the second quarter, LaBranche shareholders will receive 0.99 shares of Cowen stock for each share of LaBranche stock they own,...
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