Bank of New York Co. won government...

Bank of New York Co. won government blessings in its effort to acquire Irving Bank Corp. for $1.08 billion, with regulators concluding a shotgun marriage of the rivals wouldn’t hurt competition in the nation’s biggest financial center. The approval by the Federal Reserve Board and New York State Banking Board were considered significant because they could signal more hostile takeover attempts of banks. Irving has vowed to fight the move.