Virtu Financial to buy independent brokerage ITG for $1 bln

Reuters

Wed, Nov 7, 2018, 9:39 AM

In this article:

(Corrects to change Reuters Instrument Code for ITG)

Nov 7 (Reuters) - High-speed trading firm Virtu Financial Inc is buying independent brokerage Investment Technology Group Inc (ITG) for about $1 billion, ITG said on Wednesday.

ITG shareholders will receive $30.30 in cash for each share they hold, representing a premium of 9 percent to the stock's Tuesday closing price. (Reporting by Bharath Manjesh in Bengaluru Editing by Sai Sachin Ravikumar)

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Virtu Financial to buy independent brokerage ITG for $1 bln

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