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Shares of KCG climb 7% as BATS rises on acquisition speculation

Antonio José Vielma
Updated
Jin Lee | Bloomberg | Getty Images. Virtu Financial on Thursday said it agreed to acquire and KCG Holdings in an all-cash deal valued about $1.4 billion.

Shares of KCG Holdings (NYSE: KCG) rose 7 percent Friday as Bats Global Markets (BATS: BATS) shares gained 19.86 percent following a report late Thursday that CBOE Holdings (NASDAQ: CBOE) was in talks to buy the firm.

Both Bats and CBOE decined to comment on the Bloomberg report of a potential acquisition.

KCG is one of the largest stakeholders in Bats, owning more than 14 percent of the exchange operator, according to FactSet. As a result, KCG should benefit from the gains in Bats shares, Wells Fargo Securities analyst Christopher Harris said in a Friday morning note.

The report also said that a potential buyout of Bats should allow KCG to sell and profit from the sale of its holdings since KCG has not been able to sell any of those holdings due to a typical lock-up arrangement following Bats' IPO in April.

--CNBC's Evelyn Cheng contributed to this report.




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