Quotron Finally Says Absolutely, Positively 'No'; Citicorp's Reed Hints That $19/Share Bid Could Turn Hostile

In one of the most suspense-filled months in the history of the market data business, Quotron Systems, Inc. hemmed, hawed, and then definitively stiff-armed Citicorp, Inc.'s $680 million takeover bid. But the suspense isn't over. The merger arbitrage crowd has moved in, and few observers expect Quotron to hang on to its independence. Here's the chronology of events since Citicorp finally admitted to the world how much it covets Quotron:

March 18th: Citicorp says that in letter to Quotron chairman