Albany, N.Y. - Keycorp said that for the second time, it has extended the expiration date on its offer to acquire Evergreen Bancorp of Glens Falls, N.Y.
The deadline now stands at midnight Aug. 5, which marks a three-week extension. Terms of the offer, which have not been disclosed. remain unchanged from those made on June 22.
Keycorp chairman Victor J. Riley Jr. said, "Representatives have contacted me to say that they need still more time to evaluate Evergreen's true worth and, until that process is finalized, they are not prepared to respond to our offer."