Getco, Virtu make bids for Knight
Two firms have offered to buy the Knight Capital Group, a financial services firm that suffered a $440 million trading loss in August because of a technology error. One bid, for $3.50 a share in cash and stock, came on Wednesday from the high-frequency trading firm Getco, which three months ago helped rescue Knight from the brink of bankruptcy and acquired a large stake in the firm. The other bid, from the trading firm Virtu Capital, was privately submitted to Knight’s board on Tuesday. It offered to buy the entire company for $3 a share in cash, according to people involved in the negotiations.