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Knight Capital to sell itself to Getco Holding: sources
January 3, 2013 / 4:28 PM / in 5 years

Knight Capital to sell itself to Getco Holding: sources

NEW YORK (Reuters) - Knight Capital Group KCG.N 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.

Knight Capital traders work at the company's kiosk on the floor of the New York Stock Exchange, August 6, 2012. REUTERS/Brendan McDermid

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)

This Dec. 18 story was corrected to remove Exclusive tag from headline and slug. Dow Jones reported the news earlier

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