Ambanc Holding Co. of Amsterdam, N.Y., has not given up on buying nearby Cohoes Bancorp. It has extended its offer for the thrift company to July 31.
Ambanc, one of three New York companies bidding for Cohoes, offered $120.6 million last month but said the offer would expire June 30.
The extension keeps $740 million-asset Ambanc in the running with Hudson River Bancorp in Hudson and Trustco Bank Corp. of Schenectady for $749 million-asset Cohoes.
Hudson River, with $1.1 billion of assets, announced plans in April to buy Cohoes for about $87 million. Weeks after that announcement, Cohoes received unsolicited offers from Ambanc and $2.4 billion-asset Trustco, which said it would pay about $126 million in stock.
Cohoes, however, says it remains committed to its merger with Hudson River - which has also received an unsolicited offer from Trustco. Both Cohoes and Hudson River view the latest bids as attempts to scuttle their deal.
