Getco Makes Takeover Bid for Troubled Knight

Under the proposed takeover, Knight CEO Tom Joyce would stay on as non-executive chairman.

Getco's offer is worth $3.50 per share, with the deal taking place in cash and shares and maintaining Knight's presence on the New York Stock Exchange.

Knight's share price has been rising steadily over the past few days, as rumors of the expected takeover have surfaced.

Getco's CEO Daniel Coleman wrote in a letter to Knight that by splitting the offer between cash and shares, Knight's shareholders would be able to benefit from immediate return on investment (ROI) and continue to participate wit

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