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Getco Ups Bid in an Attempt to Close Knight Capital Deal

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  • Description

    FBN’s Charlie Gasparino on Getco raising its bid for Knight Capital.

  • Duration 2:50
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This transcript is automatically generated

Here are right.

-- -- some breaking news -- Knight capital here's Charlie Gasparino with the latest on that Charlie you have been advancing this story all today.

Give us the latest well what it -- it -- what I pick who did I predict early -- -- earlier today on markets now at 1 PM music get you know what come out on top -- Here's what we were here's what we know they upped their bid late tonight we -- first to report that we understand that the board is.

Although this thing is just about done that -- goes the likely winner of the bidding war for -- -- Knight capital Baghdad referred to dot com that vetted her to.

Holdings is is essentially -- that the board of -- has that rejected that bid now how to get how to get go do it.

Well they've basically increase the price that was somewhat of a bidding war Tom Joyce the CEO of Knight capital.

Wanted a four dollar price he almost got that the increase their their bid to about two billion dollars.

I think that's in the 37375.

Range so you almost got that in that today in the end that was too much for the exits with the aboard to turn down.

You know -- virtue Cain would have fairly compelling offer we should point out that became.

We need all cash bid I heard they were willing to -- to about 33325.

But you know what happened -- came out.

Up the cash component -- they were stock and cash.

And then basically went out there.

And an increased that is well in the in the way in though -- in the final throes and we shall also put out get -- Has some considerable force behind it they have they have a board seat get -- was one of the bailout partners that bailed -- night last -- earlier in the year -- during that -- trade also Jefferies which is their fear they're they're their investment banker on this.

Jeffries as well was is on the border one of the bell park so that's what we are right now you know I don't think.

We're gonna get announcement I don't think tonight I think we're gonna they're gonna seal it up.

And I think this thing's going to be -- morning -- obviously before the paper -- signed.

It's not a done deal now I could change this is a new year new year new year new year -- -- again.

-- -- Don't -- -- it's done.

Isn't that fascinating story you've been following it all -- Knight capital you know blew up famously with that fat finger trade right and now and the reason why we followed all the time is because it is a market maker where almost every trade that goes on -- -- not -- trade punches this company.

As you know vast as this is why we care just bring there was.

If you're an average investor and you buy the stock through money -- you know discount brokers.

Nice -- capital is playing a role it's matching that buy and sell you care who buys a minute they're good financial shape get goes back up by general I think partners.

Fairly strong firm shortly be interesting to see where the stock trades tomorrow I -- the -- -- trading right now yeah.

We'll take a look -- freed up thank you so much for bringing that to us you have been at the front of this story since the beginning and we appreciate it are up.

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