Citi Acquires Automated Trading - TheStreet

Citi Acquires Automated Trading

The deal is worth $680 million.
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Citigroup

(C) - Get Report

agreed to acquire Automated Trading Desk, an electronic market maker, for roughly $680 million in cash and stock.

Automated Trading has about 120 broker/dealer customers, and it trades, on average, more than 200 million shares a day.

The total consideration for the purchase includes $102.6 million in cash and about 11.17 million shares of Citi stock. The transaction is expected to close in the third quarter.