Virtu Financial submits competing bid for Knight-source
NEW YORK (Reuters) - Virtu Financial LLC has submitted an all-cash bid for electronic trading firm Knight Capital Group (KCG.N) of "nothing less than $3.00 a share," following an earlier cash and stock bid for Knight by Getco LLC, said a source with knowledge of the offer.
Knight would be taken private under Virtu's offer, which is backed by private equity firm Silver Lake, and other unnamed investors, the source said.
Virtu is primarily interested in Knight's market-making business and would look to sell off other units, the source said.
(Reporting By John McCrank; Editing by Maureen Bavdek)
NEW YORK - Stocks slid on Wednesday after legislators in Washington reached a provisional budget deal, which increased investor expectations that the Federal Reserve may wind down its stimulus in the coming months.
WASHINGTON - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.