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Monday, December 17, 2012

Knight board considers buyout offers - sources, (NYSE: KCG)

Electronic trading firm Knight Capital Group is considering two competing acquisition offers following a board meeting on Monday that included presentations from suitors Getco Holding LLC and Virtu Financial LLC, sources familiar with the talks said.Getco recently increased the amount of upfront cash to its cash and stock offer, valuing it near $1.8 billion, while Virtu's all-cash bid of $3.20 a share amounts to around $1.6 billion, according to the Wall Street Journal.A spokeswoman for Knight and a spokesman for Virtu had no comment. A spokeswoman for Getco was not immediately available.Virtu has lined up financing for its bid from private equity firm Silver Lake, a Virtu investor, along with Barclays, RBC Capital Markets, and others, sources with knowledge of the talks told Reuters. Private equity firm Cerberus was also considering backing the bid, according to reports.

Knight Capital Group, Inc. is a United States-based company that provides financial services. Shares of KCG traded higher by 0.62% or $0.02/share to $3.26. In the past year, the shares have traded as low as $2.24 and as high as $13.59. On average, 3755050 shares of KCG exchange hands on a given day and today's volume is recorded at 1506300.