Knight's Direct Edge got a minority investment earlier this month from Chicago-based hedge fund Citadel.
The company received a minority investment offer from three private equity players, but decided not to accept it as it judged the cost of investment to be excessive for shareholders and also dilutive in nature.
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The indisputable fact that the investment is a minority equity position that would grant Anshan absolutely no control was conveniently left out of the letter sent to Secretary Geithner.
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The company counts Walmart, Baidu (BIDU) and Russian investment firm Digital Sky as minority shareholders.
Reason enough, say conservative thinkers, to continue to limit foreign investment in local companies to minority stakes.
That makes its minority stake in Dell its largest equity investment.
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Among further welcome changes, foreign investment (though only a minority stake) will also be allowed into airlines, as well as electricity trading and broadcasting.
Chris Williams, the boss of Williams Capital, a boutique investment bank, thinks that minority-run financial firms can still struggle to get into the game, but that this may have less to do with racism than with another Wall Street vice, cronyism.
Its management's hands were tied by powerful minority shareholders, especially Mediobanca, a Milan investment bank.
The FSA stressed however, that only a minority of firms were involved and that the investment trust sector as a whole did not pose particular risks or problems.
It is also planning to let foreigners take a minority stake in insurance companies, having abandoned its former opposition to foreign investment in that industry.
Billion dollar plus-sized minority stakes by Icahn in El Paso (EP) and Motorola Mobility (MMI) netted the investment mogul impressive returns when Kinder Morgan (KMI) and Google (GOOG) paid big premiums for the respective companies.
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