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KCG Holdings Inc. (KCG) Jumped To A New High After Merger

KCG Holdings Inc. (KCG) announced Thursday morning that it has agreed to be acquired by Virtu Financial, Inc. (VIRT) for $20.00 per share in cash.

The company also reported first quarter EPS of $0.05, down from $0.41 in the previous year. Total revenues for the quarter declined 26 percent to $255.37 million from $345.42 million in the year-ago period.

KCG Holdings gapped open sharply higher Thursday, but moved in a narrow range throughout the session. The stock closed up by 2.01 at $19.75 on the highest volume of the year. KCG Holdings jumped to a new high for the year.

by RTTNews Staff Writer

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