Knight Capital Divests Unit, Eaton/Cooper Deal Approved: Merger and Acquisitions Review

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Knight Capital Group (NYSE:KCG) may divest its market-making operation, say inside sources, who indicate that he firm is in discussions regarding a possible sale. The unit, which employs complex computer models to match, buy, and sell stock orders and options, has comprised Knight Capital’s largest and most lucrative business. The company has been approached by at least two competitors about its market-making operation, according to the sources. Shares are up more than 15 percent in afternoon trading.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Both the European Commission and the Ministry of Commerce of China have okayed the pending purchase of Cooper Industries (NYSE:CBE) by the diversified industrial manufacturer Eaton Corporation (NYSE:ETN), according to a Monday release by the latter. All the necessary competition authorities have now cleared the transaction as have the relevant shareholders.

Russian antitrust authorities are no longer fighting the Norwegian group Telenor (TELNF.PK) for hiking its investment in the mobile company Vimpelcom (NYSE:VIP) as Russian tycoon Mikhail Fridman’s Altimo increased its own stake in the latter, making it the top shareholder rather than Telenor. The move now allows Vimpelcom to resume dividend payments along with keeping the firm away from foreign control.

Don’t Miss: ECB Appoints New Board Member Despite Objections Over Gender.


More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business