Cowen Group shareholders to decide merger with Ramius on Nov. 2

By Lisa Kerner

Charlotte, N.C., Oct. 5 - Cowen Group, Inc. shareholders will be asked to approve the company's merger with Ramius LLC at a special meeting on Nov. 2.

David M. Malcolm, Cowen president and chief executive officer, said he expects the companies to begin trading as a combined firm on that date.

Malcolm encouraged shareholders to vote their shares in favor of the deal as soon as possible.

Cowen's final registration statement, including its proxy statement/prospectus, became effective with the Securities and Exchange Commission last week.

In June, Ramius and Cowen announced they will combine to form a diversified financial services company "positioned to take advantage of the significant opportunities resulting from the historic changes within the economy and the financial services sector."

Under the companies' agreement, Ramius and an affiliate of a third-party investor in Ramius will receive 37.54 million and 2.71 million shares, respectively, of Cowen common stock.

As previously reported, Ramius, a privately owned alternative investment firm based in New York, will own 71.24% of the new company, and Cowen, a New York investment banking company, will own the remaining 28.76%.

The new company will retain the Cowen Group, Inc. name and operate out of New York.

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