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WHAT A DEAL!!!!!!!!!!!!!!!! Getco Proposes Buying Knight Capital at $3.50 a Share

By: capt_nemo in WRGO | Recommend this post (0)
Wed, 28 Nov 12 6:07 PM | 77 view(s)
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Getco LLC submitted a proposal to buy Knight Capital Group Inc. (KCG) at $3.50 a share, according to a filing from the Chicago-based company.

The offer for Knight shares is a 41 percent premium to the stock’s closing price on Nov. 23, the filing said. It’s 18 percent more than the stock’s closing price yesterday of $2.97. Acquiring the financial services company would expand Getco’s market-making business to include hundreds of retail brokerage clients.

Getco, one of six financial companies that helped save Knight after a $457 million trading error in August, and New York-based rival Virtu Financial LLC were likely bidders for the broker, a person with direct knowledge of the matter said on Nov. 25.

http://www.bloomberg.com/news/2012-11-28/getco-proposes-buying-knight-capital-at-3-50-a-share.html




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