Virtu Financial is paying $1bn for rival brokerage ITG as it seeks to develop relationships with more big institutional investors. The US digital market maker agreed to pay a 9% premium to October’s closing price, and a 40% premium to the price before reports of a possible deal first broke in the previous day.
Virtu Financial is paying $1bn for rival brokerage ITG as it seeks to develop relationships with more big institutional investors. The US digital market maker agreed to pay a 9% premium to the previous day’s closing price, and a 40% premium to the price before reports of a possible deal first broke in October.