April 3, 2017 / 11:36 AM / 4 months ago

BRIEF-Cowen Group announces acquisition of Convergex

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April 3 (Reuters) - Cowen Group Inc

* Cowen Group announces acquisition of convergex

* Cowen Group Inc says expects acquisition to be accretive to economic income per share and return on tangible common equity in 2018

* Cowen Group Inc - deal for a total consideration, less certain closing adjustments, of $116 million in cash and cowen common stock

* Cowen Group Inc says transaction price will be adjusted based on tangible book value of convergex at time of closing

* Majority of transaction is to be conducted through cash on Cowen's balance sheet and excess cash from convergex at closing

* Cowen Group Inc - Convergex transaction is not contingent on closing of terms of strategic partnership between Cowen and China Energy Company Limited Source text for Eikon: Further company coverage:

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