Marshall & Ilsley Corporation Shareholders Approve Transaction to Split Companies
26 October 2007 - 3:35AM
PR Newswire (US)
MILWAUKEE, Wis., Oct. 25 /PRNewswire-FirstCall/ -- Marshall &
Ilsley Corporation (NYSE:MI) (M&I) announced today that its
shareholders approved the transactions that will split Marshall
& Ilsley Corporation and Metavante Corporation into independent
public companies. Assuming satisfaction of all remaining closing
conditions, M&I expects to complete the transaction on November
1, 2007. The shares of each company's common stock have been
authorized for listing on the New York Stock Exchange. Beginning on
November 2, 2007, new Marshall & Ilsley Corporation will be
traded under the same symbol as old Marshall & Ilsley
Corporation, "MI", and Metavante Technologies, Inc. (the name of
the new holding company) will be traded under the symbol "MV." The
NYSE has informed Marshall & Ilsley Corporation that, assuming
a November 1, 2007 closing date, the common stock of new Marshall
& Ilsley Corporation, Metavante, and old Marshall & Ilsley
Corporation will trade as follows: -- Shares of old Marshall &
Ilsley Corporation will continue to trade on the NYSE under the
symbol "MI" up to and including November 1, 2007. -- The NYSE will
establish when-issued trading markets for the stock of new Marshall
& Ilsley Corporation and Metavante Technologies, Inc. beginning
on October 29, 2007, under the symbols "MI WI" and "MV WI",
respectively. -- When-issued trading in the stock of new Marshall
& Ilsley Corporation and Metavante Technologies, Inc. will end
on the close of trading on November 1, 2007. -- Following November
1, 2007, shares of old Marshall & Ilsley Corporation will no
longer trade on the NYSE or any other market. -- Regular trading in
the stock of new Marshall & Ilsley Corporation and Metavante
Technologies, Inc. will begin on November 2, 2007, under the
symbols "MI" and "MV", respectively. Accordingly, if shareholders
sell their shares of old Marshall & Ilsley Corporation on or
prior to November 1, 2007, they will not receive shares of new
Marshall & Ilsley Corporation or Metavante Technologies, Inc.
Marshall & Ilsley Corporation (NYSE:MI) is a diversified
financial services corporation headquartered in Milwaukee, Wis.,
with $60.8 billion in assets. Founded in 1847, M&I Marshall
& Ilsley Bank is the largest Wisconsin-based bank, with 192
offices throughout the state. In addition, M&I has 49 locations
throughout Arizona; 30 offices along Florida's west coast and in
central Florida; 14 offices in Kansas City and nearby communities;
22 offices in metropolitan Minneapolis/St. Paul, and one in Duluth,
Minn.; three offices in Tulsa, Okla.; and one office in Las Vegas,
Nev. M&I's Southwest Bank subsidiary has 17 offices in the
greater St. Louis area. On April 3, 2007, Marshall & Ilsley
Corporation announced its plans to split Metavante Corporation and
Marshall & Ilsley Corporation into independent publicly traded
companies. M&I also provides trust and investment management,
equipment leasing, mortgage banking, asset-based lending, financial
planning, investments, and insurance services from offices
throughout the country and on the Internet (http://www.mibank.com/
or http://www.micorp.com/). M&I's customer-based approach,
internal growth, and strategic acquisitions have made M&I a
nationally recognized leader in the financial services industry.
Metavante Corporation delivers banking and payments technologies to
over 8,600 financial services firms and businesses worldwide.
Metavante products and services drive account processing for
deposit, loan and trust systems, image-based and conventional check
processing, electronic funds transfer, consumer healthcare
payments, electronic presentment and payment, and business
transformation services. Headquartered in Milwaukee, Metavante
(http://www.metavante.com/) is wholly owned by Marshall &
Ilsley Corporation (NYSE:MI). DATASOURCE: Marshall & Ilsley
Corporation CONTACT: Randall J. Erickson of Marshall & Ilsley
Corporation, +1-414-765-7809 Web site: http://www.micorp.com/
http://www.mibank.com/ http://www.metavante.com/
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