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FBN's Charlie Gasparino on Virtu execs saying Cerberus made a verbal commitment to join the bid for Knight Capital.
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-- -- -- -- -- Well executives that -- spreading the word on Wall Street that they have the upper hand over arch rival -- -- and the struggle to take overnight capital so is birth to achieve any by Allah.
And his team overplaying their hand wealth rebel but Charlie Gasparino equities as well I would I would say that they are basically professing and in in a -- ability about their bid which is that is -- three dollars to three dollars and twenty cents -- cash but here's what we know what they're saying now and it's -- -- interesting news there's been stories that.
That virtues in talks would we would -- is to basically provide financing for this deal would would it's kind of gone beyond that -- sources on the Fox Business Network.
Is that Albert 26 or tell inclined to tell just about everybody they know out the marketplace right now.
That service has made of verbal commitment to be part of the steel debt financing this deal.
They're saying that services agreed to two and at least 200 million dollars.
As part of the deal now they're -- they're being used three to 320 I've I've seen numbers -- around over a billion dollars one point four billion dollars.
200 million dollars is not a terrible amount of money but.
A large amount money but it is something -- -- and haven't been premature of -- big private equity firm like service services one of the biggest private equity firms in the world.
Lot of power if you use it gives -- your it -- your big some cash and we should point out that night has been telling both get go the other bidder.
And and thirteen to go out there and raise money put -- -- -- financing and would virtue Hussein right now -- they have a chunk of it.
From service I will point out this.
Convert to executives are on kind of a sort of it's -- -- think they are talking up their bid in ways that I don't see a lot I mean they're out they're telling investors get go has lousy management.
People know that clients know that they have lousy management were better able to -- -- they're saying that you know investors prefer our bid.
The one thing I would say here it sounds like.
When you talk -- -- bid that much.
It sounds like you you're dealing you still think you have -- but we can't get -- IC -- -- why is getting wider than just -- is why is that just to finish it right.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Why is he overconfident let's point out that get go.
-- this proposal to do those who have wanted to interact with just give me a second -- finished -- story and I haven't had a word OK just just point that get go let me just finish this get it is kind of -- so I mean -- it's funny -- going into this entire problem getting -- but as -- get the get go and -- -- -- when they go -- go through now get so.
And it's advisor on this Jefferies this is why this could be a little bit and act.
They control 38%.
Of the of the stock of of of -- member get go.
Was a bailout -- to help bail bail out Jeff night back in the summer.
Same with same with Jefferies so they're up against -- pretty big formidable a formal player so they before it's worth.
Perches out -- -- it's a done deal almost a done deal and they got service in their hands 200 million dollars deadline for best dot com.
I think get -- pushing for one I I think -- the the bottom line is that they're gonna take their sweet time and she would receive whose got the better deals he picked up their bids I mean I think kind of kind is on the night sports side.
The the only media the issue I would just say is this you know if it's come up you know do they wanna sell will they eventually sell.
If they didn't sell it's just say they said all bids off the table shares of night right now which showed a chart I think -- about three dollars and thirty cents.
They were young I'm pat on the let me say -- right on the money by -- If if you -- those bid to be down at 250 hands so that opens up.
Tom Joyce and the board to tremendous liability from shareholders so the ago it looks like it to be so I can't tell you -- -- but I can't data put together financing and or two is professing inevitability based on this service down verbally telling them they got that you know I love you and trying to in a racketeering and and talk to about what you have to say -- -- appreciate your reporting no I understand that in the sound too good to personally I would just say this.
Like when I I I do this for a living I -- people don't know -- I report I come on the air and report for living will be spit it out.
Okay.
And the new guys financial abilities and I we are kind of like your idea you why I'm I don't complaining that -- -- -- has come out they don't talk to the people who come to get -- don't just dismiss is that the only thing I would never -- that group don't know the only the only thing is is that.
There is just a certain.
The -- like I said I don't want the I think that it is not that big deal.
I don't know if it's probably better this is good TV do I don't know I would say I would say is not that -- -- being -- one thing is that I.
There is a degrees stuff I have to just get out of my map for the -- -- -- -- like -- now like to see you tomorrow I satisfy.
-- I don't think it's funny but definitely a concern for dozens caught.
My question.
