Bank of New York’s chairman said his...

Bank of New York’s chairman said his bank is ready to negotiate its $10-a-share hostile tender offer for Irving Bank Corp., according to a Securities and Exchange Commission filing. Representatives of the two banks met Wednesday in a 20-minute meeting, according to other press reports. Bank of New York has demanded that Irving take action on its amended tender offer by 5 p.m. today. Because of the time pressure, Irving’s board has decided to have its management and advisers negotiate with Bank of New York and to have senior officials “standing by” and “prepared to meet on very short notice.”