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FBN’s Charlie Gasparino on Knight Capital’s board considering the bids for the firm.
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Now let's get to where it is pretty quiet Jersey City and iroquois -- -- -- -- 'cause I think you're -- I -- usually not -- Jersey City -- -- tell you but not capital is in Jersey City.
Nobody's talking right now but the firm's board of directors continues to weigh the company's future there's a meeting.
Straight on us all about it it's a Fox Business exclusive about the bidding war -- -- -- -- -- -- about -- the eerie quiet is definitely descended over the trading the trading operations -- -- which is located Jersey.
The board meetings here in New York there and there have been parking at the opposite of the giants have kind of -- York giants -- the -- ratings on the right what answer and I got I got I got -- you -- but anyway the board is meeting on on these two bids from -- to get -- finally this saga is that looks like it's coming to an end.
What's interesting here I think is that the -- been meeting since -- AM.
You know why is -- taking this long.
You would think virtue is one of the bidders for to put up -- -- great guy know well former New York Mercantile Exchange chair.
Who allegedly put up -- cash bid.
And if you put application for -- all this thing is done.
I wonder if there's some issue with the financing I -- call out to those guys they have not gotten backed -- and get valued.
One point five billion -- some won't that's that's a lot of cash now they allegedly have financing from Goldman and Barclays.
But just throw that out there I talked a few people today they're wondering why that -- is not being hit very hard.
The other and you got get go the other big for the bug he -- the -- get -- presented to the same thing.
Right did you high frequency trading day white -- to -- its market making unit guess why.
Market making news a huge business -- if you're an average investor you sold by -- stock.
Knight is probably touching that stock you know making the market put the buyers still together.
Causing the handle this retail order flow as cash out stock cash and shock half and half what do you -- on our behalf saying if it's good enough deal input why aren't they hit -- thing.
Anyway bottom line is the -- the the employees there.
And we've been reporting this will last couple days replaced there are freaking out they are shopping themselves to other firms like.
Under either -- they're likely to get fired -- -- -- like it would take what's known as noncore businesses.
And basically sell them off hot spot.
That the Fed -- -- unit is a -- yen for currency and commodities NASDAQ is interest -- that there's a bond department there.
I think his -- fairly biz midsize firms there existed in their bond department.
Lot of stuff like that that that will be -- that people are actually shopping themselves this salt let's let's make it clear this all began when they had a massive trading glitch right middle of the night with brand new software they didn't test properly and -- and so this so they blew up.
They got they have bailed out.
In the process get bailed -- the stock -- from ten to three.
Actually below three to fifty member the -- -- bail -- -- have convertible shares.
You know I guess the strike price is a dollar fifty so this thing could stay at throw around three dollars.
All those guys -- built about about six or six or seven partners and make a lot of money that's why when you do three dialysis.
You know yet people get interest to but I just can't understand why a cash bid for three bucks at least -- I think -- -- -- as we reported.
Anywhere between 3320.
Why that's not getting hit really hard right now -- the just seen -- -- take it well maybe if we offer of any violence.
Some cease chocolate chocolate thing capex had -- can you don't think he's -- fifty.
If you polar bear claw their -- or whatever activities you've -- a lot of anyway right on the show it is that the chocolate type guy okay.
-- -- Red meat pursuit guy yeah I would go -- it was in the guise of former.
Went to went to the US military academy West Point.
Airborne ranger who you know Smart -- as well built businesses so I don't know I don't of chocolates are enough.
Oh believe me well maybe your smile and phone -- conducted that I.
A name Charlie thank you for the inside scoop Charlie always has -- everybody else follows okay we're up.
