Canandaigua National Corp. has extended its offer to purchase its common stock from those owning fewer than 100 shares to Aug. 26, representatives said this week.
The offer was originally scheduled to expire Monday. Some 6,290 shares had been tendered from 231 shareholders by 5 p.m. Monday, bank representatives said.
The offer is being made to those with 99 or fewer shares as of June 26.
The parent of Canandaigua National Bank and Trust Co. and Genesee Valley Trust Co. intends to reduce its number of stockholders to fewer than 1,200, which would exempt the company from rules and regulations of the Securities Exchange Act of 1934 and make it private.
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