Knight Capital (KCG) Traders Create Exit Plans on Deal...or No Deal - FBN Gasparino
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Knight Capital (NYSE: KCG) shares are active amid more chatter over Getco and Virtu bidding.
Fox Business Network correspondent Charles Gasparino is commenting today that trading teams have been shopping themselves around even if a deal does happen for Knight. He notes that the traders expect job cuts regardless of whether the firm remains independent or merges with some non-core assets expected to be divested.
One source told Gasparino that Getco has the advantage right now with no word on if Virtu has committed financing yet. Gasparino said that if Virtu did have financing commitments for $1.5 billion, there would be no discussion and it would probably be a done deal.
Knight's board held a few meetings in November as Getco and Virtu got into a bit of a bidding war. Sources have said that remaining independent wasn't out of the picture.
Shares of Knight are up 0.9 percent Monday.
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Fox Business Network correspondent Charles Gasparino is commenting today that trading teams have been shopping themselves around even if a deal does happen for Knight. He notes that the traders expect job cuts regardless of whether the firm remains independent or merges with some non-core assets expected to be divested.
One source told Gasparino that Getco has the advantage right now with no word on if Virtu has committed financing yet. Gasparino said that if Virtu did have financing commitments for $1.5 billion, there would be no discussion and it would probably be a done deal.
Knight's board held a few meetings in November as Getco and Virtu got into a bit of a bidding war. Sources have said that remaining independent wasn't out of the picture.
Shares of Knight are up 0.9 percent Monday.
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