Stifel Financial Corp. has announced it will acquire the U.S. institutional fixed income sales and trading business from Knight Capital Group, Inc.
Knight Capital Group, the market maker that’s being acquired by Getco LLC, plans to sell its credit-brokerage unit to Stifel Financial, according to six people with knowledge of the matter.
Knight Capital Group's board was split between two competing offers for the firm after a meeting on Monday where suitors Getco Holding Company and Virtu Financial presented their sweetened bids to Knight's directors, sources involved in the talks said.
Knight Capital Group's board plans to meet on Monday to resume assessing takeover offers from Getco LLC and Virtu Financial LLC, its second gathering in five days, according to a person with knowledge of the matter.
Knight Capital Group capped its biggest rally in nine years after getting takeover offers from Getco LLC and Virtu Financial LLC, setting up a bidding war that may end its 17-year history as an independent company.
Getco LLC on Wednesday made an offer to acquire Knight Capital Group for $3.50 a share in cash and stock, four months after a massive trading-technology glitch cost the trading firm nearly half a billion dollars.
Knight Capital's $457.6m trading error in August is the subject of a formal investigation by the Securities and Exchange Commission.
Knight Capital Group has announced that Executive Vice President and Chief Financial Officer Steven Bisgay has added responsibility as Chief Operating Officer, effective immediately.
Knight Capital has announced the appointments of Martin Brand, Matthew Nimetz and Fred Tomczyk to the Board of Directors.
Knight Capital has announced the appointment of Albert C. Maasland as Senior Managing Director, Head of International with responsibility for the development and growth of operations in the UK, continental Europe and Asia.