NEW YORK - Dime Bancorp has extended its dutch auction tender offer until Oct. 20 as it seeks to buy more than 13 million of its shares from investors.
The company is buying the shares with the help of a $238 million investment from Warburg Pincus Equity Partners. Dime said Wednesday that about 1.6 million shares had been tendered to date.
Lawrence J. Toal, Dime's chief executive officer, has suggested that if the tender offer is not successful, the company may buy its shares in the open market. Dime is offering $16 to $18 a share, but its stock has been trading about $20 recently.