Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 28-Dec-2012

Thomas Joyce, whose position as chairman and chief executive of Knight Capital Group was on the line as the company negotiated a takeover earlier this month, will be paid US$7.5 million to ensure he remains with the stock-trading company, according to a regulatory filing.

The payment will be made to Mr Joyce when Knight is acquired by Getco Holding Co, a high-frequency trading firm that beat out a competitor to acquire Knight for about US$1.4 billion.

The payment is aimed at ensuring that Mr Joyce remains \"through at least the consummation of the proposed transactions\" with Getco, it said.

The merger, which was announced on Dec. 19, is expected to close in late April or early May.

Go to previous page