Knight Capital

Knight Capital Group Wanted $4B, But Settles With Getco For $2B

Knight Capital Group Wanted $4B, But Settles With Getco For $2B

Knight Capital Group Inc. (NYSE:KCG) has agreed to sell itself to Getco, as we reported earlier this evening. For the past several weeks, there had been a large bidding war betwen Vurtu and Getco over who would win control of the company.

We now have more information on the details behind Knight Capital Group Inc. (NYSE:KCG)’s decision. Getco is the likely winner of the bidding war for Knight Capital, according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino.” Getco increased its bid to “about $2 billion dollars,” leading Knight’s Board of Directors to reject Virtu Holdings’ bid.

More details below:

On the winner of the bidding war for Knight Capital Group:

“Getco is the likely winner of the bidding war for Knight Capital. The board has rejected Virtu Holdings’ bid. How did Getco do it? They increased the price. Tom Joyce – the CEO of Knight Capital Group- wanted a $4 billion price. He almost got it. They increased their bid to about $2 billion dollars.”

LEAVE A COMMENT


X
Saved Articles
X
TextTExtLInkTextTExtLInk

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Are you an intelligent investor?

ValueWalkPremium is a website and newsletter for smart investors like yourself. We focus on the latest hedge fund industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today for only a few dollars a day and get a 3 day no obligation trial with a targeted 20% discount coupon code.

Cancel anytime during trial and you are never charged.

Limited time offer: For first 50 subscribers

0