Knight Capital Group To Be Bought Out By Getco [UPDATED]

Knight Capital Group To Be Bought Out By Getco [UPDATED]

Knight Capital Group Inc. (NYSE:KCG) is being bought out by  Getco, according to a report from both Reuters and Bloomberg.

Stephanie Ruhle, of Bloomberg MarketMakers has some of the latest information.

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Our prior report from 4:30PM EST on the sale.

Knight Capital Group Inc. (NYSE:KCG) is aiming “for an after the bell decision” on whether to take Virtu Financial or Getco’s bid, according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. This means that Knight Capital Group should be announcing its final decision any moment from now.

Earlier in the day  Gasparino reported the following two events regarding the company:

  • KNIGHT BOARD TO MEET AT 3PM ET TO DECIDE ON BID FOR COMPANY
  • KNIGHT COULDN’T IMMEDIATELY BE REACHED FOR COMMENT

On whether Knight Capital Group will make a decision to take Virtu Financial or Getco’s bid:

“Here’s what we know right know. The board of Knight Capital Group Inc. (NYSE:KCG) is meeting to decide which bid they’re going to take.  Whether it’s Virtu a high frequency trading firm run by Vincent Viola the former head of the New York Mercantile Exchange or Getco a company that is backed up by private equity investor Atlantic Partners – right now what we understand is that the board is aiming… for an after the bell decision on this and hopefully an announcement – sometimes they decide sometimes they announce the next day.”