PSP Investments backs Virtu's $1.4 bln acquisition of KCG
Virtu Financial Inc (NASDAQ: VIRT), a U.S. electronic trading business, has agreed to buy KCG Holdings Inc (NYSE: KCG) in a cash transaction valued at about US$1.4 billion. With the deal's closing, expected in the third quarter, New York-based Virtu said it expects to migrate trading of the combined company onto a single platform. Several investors are backing the merger, including Canada's Public Sector Pension Investment Board (PSP Investments), which is partnering North Island and Singapore's GIC to invest US$625 million in Virtu's common stock.
20 April 2017•8 mins read
