Knight Capital Group Inc. (NYSE:KCG) is reportedly considering a takeover by Getco, or possibly another bidder, as we reported earlier. We noted that Fox Business Network reported that Knight Capital Group Inc. (NYSE:KCG) is seeking a white knight to avoid being taken over by either Virtu or Getco. Below are the latest highlights from Fox Business Network’s Charlie Gasparino.
–people close to Joyce tell Fox Business his move to “shop” the firm yesterday was an attempt to get the bids up above $3 which he accomplished with Getco
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
–Getco worried he would sell to a friendly player to keep job
–CEO of Knight Capital Group, Tom Joyce hates Getco management, but because the firm is an owner they will get preferential treatment
–Virtu is still in the wings; the common link between Joyce and Virtu run by former Nymex chief Vinnie Viola–Dick Grasso he’s friends with both and could broker a deal
–FOX Business also hears Joyce wants $4 a share thats his alleged selling price
Below is a video of Gasparino on the latest details about Knight Capital (the segment is from late yesterday).