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Virtu Financial submits competing bid for Knight-source
November 28, 2012 / 6:55 PM / 5 years ago

Virtu Financial submits competing bid for Knight-source

Traders of Virtu Finalcial work at a newly renovated section of trading stations on the floor of the New York Stock Exchange, November 13, 2012. REUTERS/Chip East

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

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