Hudson City Bancorp (HCBK) Stock Is Down Today After Announcing Merger Delay

NEW YORK (TheStreet) -- Shares of Hudson City Bancorp were falling 6.2% to $9.84 on heavy trading volume Monday after the bank announced its merger with M&T Bank was delayed. Shares of M&T Bank were falling 3.1% to $123.28 following the announcement. The banks announced their merger will not close by the announced date of May 1. Hudson City Bancorp said the Federal Reserve told the banks it will not be in a position to review the proposed merger before the termination date of April 30. "The boar...