Market Not Anticipating Competing Bids For Knight Capital

Nov. 29, 2012 9:32 AM ETKCG, KEY, LYG, MCQEF, MNXBF, MNXBY, MS, MSFT, MUFG, NTRS, OXPS, PNC, PNSN, NWG, RJF, RY, SAN, SCGLY, SCHW, STT, SWQGF, TD, TRAD, TRI, UBS, USB, WFC
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Contributor Since 2011

Gerald Segal is a Managing Director at LeapRate, which provides analysis of the Online Forex Trading world. Gerald's reports are a leading source of information on the size, growth and regulation of the Online Forex industry. Prior to founding LeapRate Gerald was an investment banker for 18 years with firms such as Robertson Stephens, Bear Stearns and Merrill Lynch.

Either way, likely that Hotspot FX finds a new home.

Hotspot FX logoThings sure can move fast on Wall Street. Just several hours after we blogged about (likely) potential bids emerging for the entirety of market-maker Knight Capital -- not just for one of its divisions, which was the topic of a weekend Wall Street Journal article -- a bid indeed emerged. One of Knight's competitors in the equity market making business, privately held Getco, announced a $3.50-per-share bid for Knight.

The actual real value of the bid is unclear, as Getco didn't offer cash, but rather offered to merge the two companies, using some implied valuation for itself to come up with the $3.50-per-share value for Knight.

For more details see LeapRate's Forex Industry News at leaprate.com.

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