AMSTERDAM, N.Y. - Ambanc Holding Co. of Amsterdam, N.Y., said Wednesday it had commenced its tender offer for Cohoes Bancorp of Cohoes, N.Y., as it seeks to acquire all of Cohoes shares for $16.50 in cash.

In addition, Ambanc continued to urge the Cohoes shareholders to vote against their company's proposed sale to Hudson River Bancorp of Hudson, N.Y. That vote is to be taken at a special meeting scheduled for Aug. 17.

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