Reuters reports that by late Monday, Knight had not reached a decision on which offer to accept, as it weighed different structures of the bids as well as the motivations of some of its own investors, according to one of the sources. Still, a deal of some kind for the electronic trading firm was increasingly looking more likely than not, the source added.
Getco recently increased the amount of cash to its cash-and-stock offer for Knight, which executes around 10 percent of U.S. equity trading volume, valuing it around $1.8 billion, while Virtu boosted its all-cash bid to $3.20 a share, or around $1.6 billion, the source said.
Chicago-based Getco's deal would see it merge into Knight to create a new publicly traded company, whereas Virtu would take Knight private.
Hit the link below to access the complete Reuters article: