Knight Capital Said to Open Books to Potential Buyers After Loss
Knight Capital Group Inc. (KCG) opened its books today to potential buyers, including private-equity firms and at least one securities-industry rival, as it seeks an investment or takeover to survive after a $440 million trading loss, said two people with knowledge of the matter.
Knight hired Goldman Sachs Group Inc. and Sandler O’Neill & Partners LP for advice in the rescue talks, said one of the people, who spoke on condition of anonymity because the talks are private. The New York-based high speed trading firm is under pressure to strike a deal within days, the people said.
A representative for Goldman Sachs declined to comment. Spokespeople for Sandler O’Neill and Knight didn’t immediately return calls seeking comment.
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