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CORRECTED-Knight Capital to sell itself to Getco Holding-sources
January 3, 2013 / 4:05 PM / in 5 years

CORRECTED-Knight Capital to sell itself to Getco Holding-sources

(Corrects Dec. 18 to remove exclusive tag from headline and slug as Dow Jones had the news few minutes earlier)

NEW YORK, Dec 18 (Reuters) - Knight Capital Group agreed to sell itself to Getco Holding Company LLC, beating rival high-speed trading firm Virtu Financial LLC, according to two people close to the negotiations.

Though Virtu had offered an all-cash deal, Getco and its private equity firm General Atlantic increased its offer to above $3.60 a share in cash and stock in the combined company, one source said. Under Getco’s plan, Knight Chief Executive Thomas Joyce would give up his role.

A spokeswoman at Knight was not immediately available for comment. (Reporting by Jed Horowitz; Editing by Jan Paschal)

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