Donaldson acquired by Knight Trading Group

Knight Trading Group agreed to acquire Donaldson & Co., a privately held soft-dollar and commission recapture specialist, in a cash deal, according to a press release from Knight. Terms were not disclosed; the deal is expected to close by the end of the year. Donaldson will operate as a separate division of Knight Equity Markets, Knight's over-the-counter market-making subsidiary. John K. Donaldson, Donaldson founder and CEO, will remain a consultant.