FOX Business Network Senior Correspondent Charlie Gasparino reports that Cerberus Capital Management has made a “verbal commitment” with Virtu Financial to join its bid for Knight Capital (KCG). Gasparino reports that “Cerberus has agreed to add at least $200 million dollars as part of the deal.” Excerpts from the report can be found below, courtesy of Fox Business Network.
On Cerberus Capital Management joining Virtu Financial in bid for Knight Capital:
“What sources are telling the FOX Business Network is that Virtu executives are telling clients, just about everybody they know out in the market place right now that Cerberus has made a verbal commitment to be part of this deal, to add financing to this deal. They’re saying that Cerberus has agreed to add at least $200 million dollars as part of the deal…we should point out that Knight has been telling both Getco, the other bidder, and Virtu to go out there and raise money, put together financing and what Vitru is saying right now is that they have a chunk of it from Cerberus.”