Virtu Financial to acquire ITG for $1bn
Cash deal comes little over a month since reports of potential merger
Virtu Financial has entered into an agreement to acquire agency broker and financial technology provider ITG in a $1 billion deal, which will see the market-making specialist boost its institutional footprint.
The acquisition comes just a year after Virtu paid $1.3 billion to buy rival market-making firm KCG for $1.3 billion. The latest deal will see Virtu pay $30.30 per ITG share in a bid to expand its agency offering to its institutional client franchise.
The price represents a premium of
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