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 $200 million dollars as part of the deal.”
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On Cerberus Capital Management joining Virtu Financial in bid for Knight Capital:
“What sources are telling the FOX Business Network is that Virtu executives are telling clients, just about everybody they know out in the market place right now that Cerberus has made a verbal commitment to be part of this deal, to add financing to this deal. They’re saying that Cerberus has agreed to add at least $200 million dollars as part of the deal…we should point out that Knight Capital Group Inc. (NYSE:KCG) has been telling both Getco, the other bidder, and Virtu to go out there and raise money, put together financing and what Vitru is saying right now is that they have a chunk of it from Cerberus.”