Posts Tagged ‘ Knight Capital Group ’

Knight Capital Group Conquered By Getco But Questions Linger

December 19, 2012

Knight Capital Group Inc. (NYSE:KCG) has agreed to be acquired by Getco following a highly-publicized bidding war between high frequency trading firms Getco LLC and Virtu LLC. The Wall Street Journal is reporting that Getco will pay $3.75 per share in cash for around two-thirds of the outstanding shares of Knight not currently owned by Getco, with the remaining Knight Capital Group Inc. (NYSE:KCG) shares converted into equity in a combined publicly-traded Knight/Getco entity. According to the initial offer terms, Getco...
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Knight Capital Group Wanted $4B, But Settles With Getco For $2B

By ValueWalk Staff

December 18, 2012

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...
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Cerberus Makes Verbal Commitment With Virtu in Knight Capital Bid

By ValueWalk Staff

December 4, 2012

Earlier this morning, it was reported that Cerberus Capital Management would be joining the bidding war for Knight Capital Group Inc. (NYSE:KCG). The latest news indicates that there is a serious offer from Cerberus Capital for the financial services company. Cerberus Capital Management has made a “verbal commitment” with Virtu Financial to join its bid for Knight Capital Group Inc. (NYSE:KCG), according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. Gasparino reports that “Cerberus has agreed to add at least...
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Knight Capital Group’s Board Meeting Ends: Here are the Details

By ValueWalk Staff

November 29, 2012

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....
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Knight Capital Bidding War to Formally Begin Any Moment: Report

By ValueWalk Staff

November 29, 2012

Knight Capital Group’s board and bankers are meeting this afternoon to discuss bids from Getco and Virtu Financial, and that there could be an “announcement sometime after the market close today or tomorrow, according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino.” Gasparino goes on to report that officials from Getco and Virtu are “prepared to sweeten their offers if need be” for the firm. Further details from Gasparino below: On board members...
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Knight Capital And Its Two Suitors Discuss Take Over Possibilities

By DebbieBaratz

November 29, 2012

Knight Capital Group Inc. (NYSE:KCG) has two rival suitors making take over offers for it with values as high as $1.8 billion. On Wednesday, Chicago-based Getco LLC and New York’s Virtu Financial LLC gave bids to Knight’s board of directors for the struggling company. It may have a decision by year’s end, reported the Wall Street Journal, but Getco nudged the process along after sharing its bid publicly in a letter and asking the...
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Knight Capital Stops Trading Due To Power Problems

By Marie Cabural

October 31, 2012

Knight Capital Group Inc. (NYSE:KCG) halted its trading activities on Wednesday afternoon after its back-up power generator failed, following a power interruption caused by Hurricane Sandy, according to the report from Bloomberg. Knight Capital Group Inc. (NYSE:KCG) issued a memo indicating the company decision to stop accepting new trading orders, and advised its clients to re-route their stock order to other trading firms. The company cut off trading orders related to institutional sales & trading,...
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Knight Capital Trader Flubs $800K Trade One Day Before $400M Loss

By ValueWalk Staff

August 8, 2012

FOX Business Network’s Senior Correspondent Charlie Gasparino reports that Knight Capital’s “specialist” unit at the New York Stock Exchange “lost $800,000 on a single specialist trade” the day before the big tech glitch that lost the firm $400 million. The “loss could wipe out most, if not all of Knight specialist’s unit profits.” Excerpts from the report are below: On Knight Capital Group Inc. (NYSE:KCG)’s specialist unit losing $800,000 on ENSCO PLC (NYSE:ESV): “A day...
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Knight Capital’s Stock Jumps With Capital Infusion From New Investors

By Marie Cabural

August 7, 2012

The shares of Knight Capital jumped 3.6 percent to $3.18 per share during the opening of trading on Tuesday after striking a $400 million rescue deal with a group of new investors, including the Jefferies Group (NYSE:JEF), Stifel Financial Corp. (NYSE:SF), Blackstone Group LP, Nicolaus and Company, Getco, and TD Ameritrade Holding Corp. (NYSE:AMTD). On Thursday last week, the company’s stock value dropped 63% to $2.58 per share. The company lost $440 million due...
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Knight Capital Pressures Nasdaq Over Facebook Debacle

By Saul Griffith

July 19, 2012

After our report yesterday about Knight Capital Group Inc. (NYSE:KCG) considering legal recourse to recover its losses on the botched Facebook IPO from Nasdaq, we have more comments from Knight Capital chief Thomas Joyce, who has gained somewhat of a reputation for being the leading critic of the hapless exchange. Though there may be some background here. Joyce and Nasdaq chief Robert Greifeld were once directors on each other’s boards but have stepped down long since. Knight...
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