Business Services Industry
Schenectady, N.Y.-Based Bank Files Papers on Merger with Two Area Banks.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, July, 2000 by Mattox, Keri P.
Jul. 12--TrustCo Bank Corp NY took a formal step Tuesday toward its possible acquisition of Cohoes Savings Bank and Hudson River Bancorp Inc., filing documents with the Securities and Exchange Commission.
TrustCo filed SEC documents that will ask Cohoes Savings Bank and Hudson River Bancorp shareholders to vote against an already approved $87 million "merger of equals" between those two companies.
Cohoes had accepted earlier an offer from Hudson River Bancorp Inc.: Hudson offered 1.185 of its shares for every Cohoes share. Upon closing, the combined company, which would be called Cohoes-Hudson Bancorp Inc., would have assets of $1.8 billion.
But TrustCo has publicly announced that it intends to launch a tender offer to swap its shares for...
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