Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Knight to Add Three to Board as Part of $400MM Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, August 07, 2012

Knight to Add Three to Board as Part of $400MM Deal

News summary by MFWire's editors

Knight was considering filing for bankruptcy after the $400 million loss it incurred after an electronic mishap, until a group of investors came to the rescue.

The New York Times reports that under the terms of the deal, the board of the firm should be expanded by adding three new members. The members should come from the group of investors comprised of Jefferies, TD Ameritrade, BlackStone, and Stifel, Nicoalaus & Company.

Jefferies, which invested $125 million, will take one out of the three seats.

Blackstone and Getco invested $87.5 million while TD Ameritrade invested $40 million.

Thomas Joyce said:

“The array of participants in this capital infusion underscores Knight’s critical role in the capital markets."

Joyce saw also around $9 million drop for his 1.2 million shares in the company. Possible legal violations for Knight is also being looked into by the regulators.  

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use