Citicorp has acquired control of Quotron Systems, Inc. Nearly a week before its $19/share tender offer was due to expire, the bank holding company said 19.1 million shares -- about 55 per cent of the total outstanding -- had been tendered. That the balance will also be tendered seems to be a foregone conclusion.
This relatively anticlimactic outcome was virtually guaranteed when Quotron's board, although calling the offer "inadequate," voted not to actively oppose the bid. Citicorp announced
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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