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International Bancshares Corp. (IBC) announced earlier this week that it is extending its tender offer for locally based National Bancshares Corp. of Texas (NBC) a second time.
Since the first deadline extension, after Sept. 7, the Laredo-based lender has collected only a handful of NBC's outstanding common shares. NBC investors had tendered 2.12 million shares, or 51.3 percent, as of Sept. 7. On Friday, Sept. 28, three weeks later, the number stood at 2.18 million shares, or 52.7 percent, according to IBC.
To consummate the deal, IBC said it requires at least 2.76 million tendered shares. IBC, which is still awaiting regulatory approvals for the …