News

Virtu chases KCG in $1.3bn electronic tie-up

The potential combination of Virtu and KCG reflects tough times for securities trading firms

Virtu chases KCG in $1.3bn electronic tie-up
Photo: iStockphoto

The electronic trading firm KCG Holdings is reviewing a proposed takeover from Virtu Financial, in what would be a $1.3 billion deal to combine the two trading rivals.

KCG, created in 2013 by the takeover of Knight Capital by high-speed trading firm Getco, said on Wednesday that it had received an "unsolicited" proposal from Virtu.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump