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Knight Capital Said to Open Books to Potential Buyers After Loss

Thomas Joyce, chairman and chief executive officer of Knight Capital Group Inc. Photographer: Jonathan Fickies/Bloomberg
Thomas Joyce, chairman and chief executive officer of Knight Capital Group Inc. Photographer: Jonathan Fickies/Bloomberg

Aug. 2 (Bloomberg) -- Knight Capital Group Inc. 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.

Link to Company News:{KCG US <Equity> CN <GO>}

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

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