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Fly News Breaks for October 5, 2018
ITG, VIRT
Oct 5, 2018 | 07:27 EDT
A possible acquisition of Investment Technology Group (ITG) by Virtu Financial (VIRT), as reported yesterday by Bloomberg, points to "solid upside," Citi analyst Ben Herbert tell investors in a research note. The analyst views the potential deal favorably for Virtu given his belief that the company's standalone earnings growth may remain challenged against the current environment. His initial pass at potential deal accretion indicates $3.50 per share of upside for Virtu. Herbert keeps a Hold rating on Virtu shares.
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