torontodominion bank said tuesday that it has agreed to acquire fullservice investment bank cowen inc in a deal valued at 13 billion as it continues to grow its exposure to the us market the canadian financial institution said it has signed a definitive agreement to acquire the new york citybased investment firm for 39 a share cowen is a leading independent dealer with a premier us equities business and a strong diversified investment bank that when combined with td securities will allow us to accelerate our strategic us growth plans td president and chief executive bharat masrani said parts of the combined business will be known as td cowen a division of td securities and will be headed by jeffrey solomon cowens current chairman and chief executive