An activist investor known for pressuring bankers to sell their companies is threatening to wage a proxy fight against Southern Connecticut Bancorp Inc. if it fails to find a buyer soon.

Lawrence B. Seidman claims he was told by the New Haven company's chairman, Elmer Laydon, that it has received interest from at least three potential buyers, including a letter of intent from one willing to pay $9 a share.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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