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Knight capital -- an even sold yet and already the vultures are eyeing its carcass for peace -- that the new management will likely sell off.
Yes the story continues but you've got.
But that twist here now right I mean this is kind of interest in -- with sources tell the foxes or no matter who buys Knight capital whether -- -- -- they put in a bid.
All cash between 3320 got 3003003.
Death of the twenty cents a share.
Or get go with three -- fifty cent us can't stop can't cash.
-- no matter who buys it they're likely to sell pieces one of the big pieces is in EC and brokerage for for foreign exchange it's called hot spot who we know.
Sources tell the -- and they were fed NASDAQ of all places the NASDAQ Stock Market.
Is -- mean that potential that potentially by.
Hot spot FX if you know once the deal gets done this is our breakfast right here nobody -- reported -- that Mastec they've RE IT so yeah write yet and that -- -- now you have to look at it this way.
They may buy it anyway if they don't sell -- if they don't -- I think they're gonna tonight's gonna so there there's parts of it.
But even if they do sell the likelihood -- to.
And and get go are gonna take out parts of night is very real management on both sides have discussed that which ports -- so there's obviously.
They want one of the major -- -- the firm.
The most -- part of firm is the market making part right that's what they want to keep.
Hot spot FX just doesn't quite fit into the business.
It matters to our viewers because trades they make go through well -- currently is a thing well first -- -- you know we cover Wall Street that's number one but number two no.
If you are an average person and use buy -- sell a stock.
Knight will touch your stock in some ways -- because this is.
This is they -- between match buyers and sellers of retail order flow in house in order flow from the TD Ameritrade.
From E*Trade and that's what they do -- the biggest firm that.
So their business is pretty interest been out there.
This is what we know the NASDAQ which is the big you know the second largest stock market which specialized technology.
NASDAQ from what I understand management has talked.
About buying this once this the balances deals done.
How much you're gonna pay I can't tell you I don't have a good feel for that but I do know that NASDAQ is looking to -- it fits within its business model which.
He is a thing that of the exchanges right now we we should point out that NASDAQ and the New York Stock Exchange.
Other publicly traded companies people own their stock this is an important story from their standpoint.
But -- very hard for them to grow through acquisitions by doing big acquisitions has been knocked down by regulators member.
New York Stock Exchange.
Could invited to which of course was European regulators what it's down and NASDAQ is up nearly put.
-- the -- NASDAQ could not do its hostile bid because of US regulators to try to -- the New York Stock Exchange so what do they left -- do.
Two purchases around the core you know and he's buying this.
This hot spot FFX which which is an EC and.
It's it's it's it's a market maker for foreign exchange were foreign exchange and to market make it it doesn't which -- That is something that NASDAQ would like to have it's it's pretty good within its business model which as you know this is an all this is of market you know NASDAQ is a market.
That matches -- -- -- the stock through and that's through its computer system.
York stock exchange has a hybrid model guys on the floor and computers known as archipelago so that's why NASDAQ -- interest and if it's very much in its in its.
In its business -- -- I'm sure a lot of people going to be interest in but I think NASDAQ really wants is Bob Greifeld.
Pretty savvy guy he's the type -- that it knows what you need to do to make -- -- to basically build out around the around the corner.
And because they can't really do big deals.
This is something that would expect to make money form.
And I tell tell you this that.
Knight has been trying to build this business up over the last sort of year or release the last six months I know for a fact.
Probably preparation that there are gonna sell it out we -- -- do you just reiterated -- -- broken earlier today.
Is that -- -- to one of the bidders on night.
This telling people not that it's in talks which service to big private equities -- beginning.
To get them get a -- servers but then if I -- all right well listen well people -- commodity what I understand that night executives are telling people that cerberus is in.
They got financing from them that -- it just about a done deal.
It is a -- they've been verbally told that they got the financing.
Of 200 million dollar at least 200 million dollars that's would night executives think that's a pretty big plus for pervert to.
She's a virtue objectives are saying that's a pretty big -- virtue of going against get go because they have to get financing for this -- not -- that night board last week will reported last week.
They told both sides go back and get financing.
My view is that -- two is a little too cocky in this here's -- -- could sound like they got this thing one they're telling people that.
Get goes does have great management that investors want they're all cash bid.
You know when you start talking like that you know want you -- made -- think that -- bidders in the strong remember get bill comes with some form Valassis namely.
Then and revise -- Jefferies to control 38 to forty at -- 30% of the company.
Right they own that stock member they bailed out might -- her number so this is this is still dogfight but I give you delays what I know.
That's tack may -- then could could have stepped Charles Steele -- good to see you thank you very much closing.
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