Republic New York Corp. said on Thursday that for second time it was delaying a meeting in which shareholders are to vote on HSBC Holdings PLC's proposed $10.3 billion buyout offer for the company.
The meeting, originally scheduled for Sept. 9 and then delayed until Oct. 12, now is slated for Oct. 29 and could be put off yet again, Republic said. The company said it needs more time to include a report on the extent of the bank's relationship with Martin A. Armstrong, a money manager accused by federal prosecutors of securities fraud.
Republic suspended the chief executive of its futures division and fired its president after it was revealed Sept. 1 that questions had arisen about Mr. Armstrong's dealings with the bank.
A spokeswoman for Republic said last week that the company had hoped to complete its investigation and include the report in its proxy by Saturday, the deadline required by Maryland, where Republic is incorporated. -- David Weidner