Cowen Group Inc. (Nasdaq: COWN) is buying investment bank Dahlman Rose & Co. LLC for an undisclosed amount.
Dahlman, headquartered in New York, specializes in the energy, metals, mining, transportation, chemicals and agriculture sectors.
The all-stock deal should expand Cowen’s sector focus. Right now, the New York investment bank focuses on healthcare, technology, media, telecommunications, consumer, aerospace, defense, industrial and real estate investment trusts.
Willkie Farr & Gallagher LLP acted as Cowen’s legal counsel for the deal, while Morgan Lewis & Bockius LLP acted as Dahlman’s legal counsel.