Cerberus Capital Management LP is in talks to join Virtu Financial LLC's bid for U.S. brokerage Knight Capital Group Inc, the Wall Street Journal reported, citing people familiar with the discussions. Virtu and rival electronic trading firm Getco Holding Co have made competing offers for the Jersey City, N.J.-based Knight, valuing the company at a minimum of $1.1 billion.Knight was made vulnerable to a takeover this summer when a trading glitch left it nearly bankrupt before a group of investors stepped in with $400 million in emergency capital.Cerberus' participation in Virtu's bid would add another deep-pocketed investor to a group that also includes Silver Lake Partners and banks such as Credit Suisse Group AG, the Journal said. It added that the extent of Cerberus's potential role in the group was still under discussion.Knight's board met again on Monday to review the proposals, though no imminent decision on a deal was expected, according to people familiar with the negotiations, the Journal reported.
Credit Suisse Group AG (Credit Suisse) is a global financial services company. Shares of CS traded higher by 0.04% or $0.01/share to $23.62. In the past year, the shares have traded as low as $16.09 and as high as $29.97. On average, 2240300 shares of CS exchange hands on a given day and today's volume is recorded at 958596.
Knight Capital Group, Inc. is a United States-based company that provides financial services. Shares of KCG fell by 1.19% or $-0.04/share to $3.33. In the past year, the shares have traded as low as $2.24 and as high as $13.59. On average, 3766280 shares of KCG exchange hands on a given day and today's volume is recorded at 3945905.
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