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Non-Tech : Knight/Trimark Group, Inc.
KCG 20.000.0%Aug 17 5:00 PM EST
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To: Glenn Petersen who wrote (10018)11/26/2012 7:23:15 PM
From: Wayners  Read Replies (1) of 10027
 
Glenn I picked up $1.50 Jan calls on KCG today based on the M&A rumors today. They issued the equivalent of 266.7M shares in the form of convertible preferred at $1.50 apiece in common stock terms to investors like TDAmeritrade in order to recapitalize. It appears the book value per share is about $2.67 if all the convertibles converted. Conversion is mandatory 3 days after KCG trades above $4.50 for 60 days. If KCG were acquired or merged, I'd think it would certainly go for more than 1 x book value.
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