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


Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required


Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up today and get three months free

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 10/31/2019 or after next 25 20 subscribers take advantage whichever comes first – please do not share this discount with others

 

0