In the latest twist to an unusually difficult pending merger, Roslyn Bancorp officials said Monday that they do not intend to increase their offer for T R Financial Corp.

Under the merger agreement struck in May, T R has the right to ask Roslyn to increase the number of shares offered if Roslyn's stock trades at under $20.72 when the deal is scheduled to close or if its stock has underperformed an index of selected thrift stocks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.