Knight Capital Group Inc. (NYSE:KCG)'s board meeting over the future of the company has just ended. We reported earlier today, that a bidding war would likely be underway tonight or tomorrow. Details of the board meeting have been obtained by FOX Business Network's Charlie Gasparino. Below is an exclusive summary of the meeting:
Knight Capital Group Inc. (NYSE:KCG)'s board meeting ends with no decision on bids from either Virtu financial and Getco llc, according to sources close to the matter. the board is still weighing both offers. Virtu and Getco, both high frequency trading firms, are prepared to sweeten their offers, people close to the company say. Virtu is bidding around $3 a share all cash while Getco is offering $3.50 a share in cash and stock. Knight Capital Group Inc. (NYSE:KCG)’s bankers at Sandler O’neill & partners continue to discuss matter with board. knight CEO Tom Joyce is aiming to have a deal closer to $4 a share, sources say. people close to the company say a sale is all but certain.