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Knight Capital (KCG) will reportedly receive a $400M financing lifeline from a group of...

Knight Capital (KCG) will reportedly receive a $400M financing lifeline from a group of investors that includes Blackstone (BX), TD Ameritrade (AMTD), Stifel Nicolas (SF) and Jefferies Group (JEF). The consortium is expected to receive convertible preferred stock with a conversion price of $1.50/share and carry a coupon of 2%, giving it 70-75% of Knight Capital.
Comments (1)
  • brachiosaurus
    , contributor
    Comments (237) | Send Message
     
    another common private equity business model. Rape the existing shareholders without giving them a say about the recap. Make sure to appease the current management with job assurances.
    This is not capitalism, but parasitism.
    6 Aug 2012, 02:39 PM Reply Like
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