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KCG Holdings, Inc. Message Board

  • mashiach@verizon.net mashiach Dec 16, 2012 9:19 PM Flag

    (((((ALERT WALL STREET JURNAL))))

    SEE MY POST

    Sentiment: Strong Buy

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    • mashiach@verizon.net mashiach Dec 16, 2012 9:24 PM Flag

      Rivals Mulled Raising Bids for Knight Capital
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      By JENNY STRASBURG

      Two companies competing to acquire Knight Capital Group Inc. KCG -0.92% discussed over the weekend whether to increase their bids, but they seemed to hold back ahead of the brokerage firm's board meeting set for Monday morning, according to people involved in the talks.

      Getco LLC and Virtu Financial LLC have each offered more than $1 billion to buy Knight, as the two closely held trading firms vie for control of Knight's profitable business processing stock trades for retail-brokerage firms.

      Knight, based in Jersey City, N.J., was hobbled by trading errors in August that cost the company $461.1 million and shifted majority control of the firm to rescue investors, including Getco.

      Late last week, Getco increased the amount of upfront cash in its cash-and-stock offer, which proposes a merger with Knight that would make Chicago-based Getco a publicly traded company, people involved in the negotiations said Sunday. Getco's initial proposal, outlined in a securities filing last month, was for $3.50 a share for about half of Knight's shares outstanding, plus stock in the combined company.

      It couldn't be determined Sunday night how much more cash Getco's latest proposal offered to Knight shareholders.

      A Getco spokeswoman declined to comment beyond last month's filing.

      During the weekend, Getco and its partners in the deal were mulling a potential increase in the overall value of the bid, which initially was valued at between $1.4 billion and $1.8 billion including debt, depending on the value of the merged company, said people involved in the discussions.

      Sentiment: Strong Buy

      • 1 Reply to mashiach
      • mashiach@verizon.net mashiach Dec 16, 2012 9:25 PM Flag

        During the weekend, Getco and its partners in the deal were mulling a potential increase in the overall value of the bid, which initially was valued at between $1.4 billion and $1.8 billion including debt, depending on the value of the merged company, said people involved in the discussions.

        Sentiment: Strong Buy

    • mashiach@verizon.net mashiach Dec 16, 2012 9:20 PM Flag

      As i told you in the past 2 weeks ....
      the bidding war has just started

      Sentiment: Strong Buy

 
KCG
10.52+0.02(+0.19%)Aug 4 4:02 PMEDT