KCG Holdings-A (NYSE: KCG)
KCG Holdings is having an incredible time in the pre-market hours today. In fact, the stock is soaring at the moment. The gains seem to be the result of a buyout offer, which of course, we will get into a bit later. Below, we'll talk about what we're seeing from KCG, why, and what we'll be watching for with regard to the stock ahead.
What We're Seeing From KCG
As mentioned above, KCG Holdings is having an incredibly strong day, at least thus far in the early morning. Recently, news broke of a buyout offer, sending the stock soaring. As a result, KCG is currently (9:09) trading at $17.91 per share after a gain of $1.01 per share or 5.98% thus far today.
Why The Stock Is Gaining
Before we get too deep into the details here, we need to give credit where it's due. Our partners at Trade Ideas were the first to inform us of the gains on KCG. As soon as we received the alert, the CNA Finance team started working to see why the stock was making a run for the top. It didn't take long to dig up the story. The gains are ultimately the result of a buyout offer.
Minutes ago, the offer started to hit the wire, sending the stock upward. The news is that Virtu Financial has made a bid to acquire KCG holdings. According to various reports, the acquisition offer comes with a price tag of more than $1.2 billion. At the moment, there is no news with regard to whether or not KCG will accept the offer.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on KCG. In particular, we're interested in learning whether or not the company will accept the buyout offer. If they do, it will return incredible value to shareholders as the price represents an incredibly strong premium. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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