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Msg  100319 of 247633  at  8/5/2012 4:29:32 PM  by

sophocles


 In response to msg 100295 by  ChuckKrew
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Re: Knight Trades

 

Knight Pursues Investors as Citadel, KKR Said to Bow Out

By Saijel Kishan and Whitney Kisling - Aug 5, 2012 2:53 PM ET

 

Knight (KCG) Capital Group Inc., fighting for survival after a $440 million loss spurred by a software failure, worked to find an investor after people familiar with the matter said two potential suitors were no longer interested.

Citadel LLC and KKR & Co. are no longer exploring an investment, the people said. Knight, responsible for about 10 percent of American equity volume, turned to Goldman Sachs Group Inc. (GS) on Aug. 1 to buy the firm out of trading positions acquired by mistake when a computer program malfunctioned, a person with knowledge of the matter said. It has until the close of business on Aug. 6 to complete the transaction.



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Msg # Subject Author Recs Date Posted
100320 Re: Knight Trades ChuckKrew 0 8/5/2012 5:06:05 PM


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