Irving Bank Corp. and its hostile suitor,...
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Irving Bank Corp. and its hostile suitor, Bank of New York Co., both hinted at victory in a heated proxy battle for control of the company. Irving shareholders voted at the annual meeting between a slate of 16 incumbent directors that back a restructuring and friendly merger with Banca Commerciale Italiana SpA of Milan, Italy, and nominees from rival Bank of New York. The results are not expected to be released before a reconvened annual meeting May 24. Banking analysts generally have given Bank of New York an edge in the proxy battle, mostly because it already has secured the necessary regulatory approvals from the Federal Reserve and New York State Banking boards.
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