Great Western’s approval to buy Citadel expired.

Though Great Western Financial dropped its effort to acquire Citadel Holding through a hostile takeover, it tried to keep its options open by requesting an extension of the original merger authorization from federal regulators. Citadel announced that the Federal Home Loan Bank Board has denied that request. According to Citadel officials, it’s now unlikely that Great Western will try to revive the merger because it would have to obtain regulatory approval all over again, a process that takes months. A spokesman for Great Western declined to comment.