High-frequency market maker Getco has offered to merge with Knight Capital in a cash deal that values the embattled brokerage at about $539m.

The proposed merger values Knight's shares at $3.50 a share - a 41% premium over the closing price on Friday, which Getco said is the last day before rumours of a possible offer for Knight surfaced. The offer is an 18% premium to yesterday's close.

Getco makes $539m offer to merge with Knight Capital

High-frequency market maker has offered to merge with Knight in a cash deal

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