Knight Securities Buys Stake In Track Data; Trading System In Works
VENDOR STRATEGIES
NEW YORK: Knight Trading Group, a US market maker, has paid $1.25 million for one million shares of Track Data. Knight now owns 1.5 percent of Track Data's outstanding shares and has a three-year option to buy an additional two million shares for $3.5 million, or $1.75 a share.
If exercised, the options would give Knight 4.5 percent of the company. The $1.25 price was a $0.25 per share premium over Track Data's $1 per share closing price on Dec. 1. Track Data used treasury stock to fill the deal
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