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Gasparino on Bid for Knight, CEO's Future

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  • Description

    FBN's Charlie Gasparino on the future of Knight Capital and its CEO Tom Joyce.

  • Duration 3:06
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I am flight of that capital -- eerie silence descended over the trading -- -- management and its board now -- competing bids.

For the trading profit to -- Reno has weighs about future of -- and CEO Tom Joyce he still depressed about losing Lotto.

So -- yeah.

I do you know favored by one I guess I wouldn't be making this call right now in different break some news I would have to work -- delighted that -- I don't get -- matter of so just -- -- yet well here's I think it's kind of that you stated that we haven't yet gotten.

Sort of an official press release from -- to on exactly what it's bitter it would -- -- I have -- -- -- -- it -- to his -- -- -- -- -- And I next CEO.

But you know that's -- don't that's kind of weird I mean night I know -- make some presentation to the board -- that I -- to discuss terms.

What you need generally get a press release are you get an official bid and we don't have they -- so we're waiting that.

-- thing is we should point out that get those offer you know it's very interesting in the sense it's F stock Afghanistan value at 350.

How they're gonna get that treated as a maverick business this is like get those you know you have to take your -- forward.

You know they have to squeeze some savings -- -- -- to get that in you know they -- has one point two billion dollars.

Didn't in.

Cost and bacon basically expenses they can basically squeezed that down pretty significantly and I think that would get -- sainthood shareholders to.

We can make this -- 350 dollar this is worth at least 350 could we get we get these expenses we can squeezed -- That said I can tell you by speaking to people close to the board.

That's so nice sport -- seen favoring middle cash stated I don't if anybody else that waiting to see what it is if he comes close to 350 say comes 320.

I think they hit the bid I think they hit an all cash bid at 320 streets.

And then -- -- -- thing is Tom Joyce is future.

You know the divert to bid.

He keeps his job under the -- the other didn't get go -- you know he's essentially out executive chairman did not executive chairman.

That means you're done I will say this even under divert to bid.

I just can't imagine that he could either very or at least based -- transition that's a lot of people talking about at any Lisa what do -- do have that.

Well if she gets this deal it's a pretty good deal as you know we could revive his reputation as the that treaty collection all the stuff -- came -- -- that that oil nearly blew up the firm.

You know people talk about anything illegal markets he could be a replacement of one that it wanted to CEOs -- you know don't get it.

-- -- -- -- -- -- -- -- -- -- -- At NASDAQ decide to do something else you know he's got a could step into one of those jobs -- those exchanges so.

As we know right now we're clearly -- -- -- for two it is to be here silence.

You know just it's -- both suitors and in bowels.

Is that an Ericsson Israel and violently -- yeah well -- didn't get that's pretty wild.

These patterns to write my name it devout youth gas -- yeah.

RIT yeah -- --

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