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July 4, 2022

TD Bank weighs acquisition of US brokerage firm Cowen

Canada’s Toronto-Dominion Bank (TD Bank) is exploring the potential acquisition of US-based brokerage firm Cowen, reported Bloomberg News citing people familiar with the matter. 

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The Toronto-headquartered lender, which has been rapidly expanding its footprint via acquisitions, has hired advisers to draw up a possible transaction for the US firm.

According to the sources, the bank has not finalised any decision regarding the deal and could choose against moving forward with the plan.

Cowen, which made its stock market debut in 2006, served as a bookrunner on 55 initial public offerings in the past 12 months, the report said.

Last year, the New York-based firm agreed to buy M&A advisory firm Portico Capital Advisors to boost its capabilities in capital markets, advisory, and research.

If realised, the deal would help TD’s investment banking unit, TD Securities, to further expand its reach into equity and debt offering as well as research.

This February, the bank brokered a deal to snap up Tennessee-based First Horizon Corp for approximately $13.4bn.

The deal was said to be the largest acquisition in the bank’s history and boldest move under chief executive Bharat Masrani who took its reins in 2014.

Masrani previously said on several occasions that the bank would consider leveraging its extra capital in a significant US deal if the right opportunity came along.

Last year, TD Bank set up a robo-advisory service in the US in a bid to bolster its investment advice offerings in the country.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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