Knight Capital Said to Open Books to Potential Buyers After Loss

Photographer: Jonathan Fickies/Bloomberg

Thomas Joyce, chairman and chief executive officer of Knight Capital Group Inc. Close

Thomas Joyce, chairman and chief executive officer of Knight Capital Group Inc.

Close
Open
Photographer: Jonathan Fickies/Bloomberg

Thomas Joyce, chairman and chief executive officer of Knight Capital Group Inc.

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.

To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net

To contact the editor responsible for this story: Katherine Snyder at ksnyder@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.