Deals
M&T Extends Hudson City Deadline Amid Fed Objections
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M&T Bank Corp.’s year-long courtship of Hudson City Bancorp Inc. got even longer after the two lenders extended their Jan. 31 merger deadline for another 11 months to placate regulators.
The delay, disclosed today in a statement, is the second extension by Buffalo, New York-based M&T of its bid for Paramus, New Jersey-based Hudson City. The takeover announced in August 2012 and originally valued at $3.7 billion has been stalled by Federal Reserve queries about M&T’s money-laundering controls.