Marshall & Ilsley Corporation and Metavante Technologies, Inc. Announce Completion of Separation
02 November 2007 - 1:16AM
PR Newswire (US)
MILWAUKEE, Nov. 1 /PRNewswire-FirstCall/ -- Marshall & Ilsley
Corporation (NYSE:MI) and Metavante Technologies, Inc. (NYSE:MV)
announced today that they have completed the separation of Marshall
& Ilsley Corporation and Metavante Corporation. As a result of
the transaction, Marshall & Ilsley Corporation has separated
into two independent publicly-traded companies: new Marshall &
Ilsley Corporation and Metavante Technologies, Inc. The shares of
each company's common stock have been authorized for listing on the
New York Stock Exchange. Beginning November 2, 2007, new Marshall
& Ilsley Corporation will continue to trade under its
traditional symbol, "MI," and the newly created holding company,
Metavante Technologies, Inc., will trade under the symbol "MV." New
Marshall & Ilsley Corporation will pay the cash dividend that
was announced on October 18, 2007 by "old" Marshall & Ilsley
Corporation. The regular quarterly cash dividend of $0.31 per share
is payable on December 14, 2007 to shareholders of record of new
Marshall & Ilsley Corporation at the close of business on
November 30, 2007. New Marshall & Ilsley expects to continue to
pay regular quarterly dividends to shareholders of $0.31 per share
in accordance with Marshall & Ilsley's previously announced
dividend policy; the declaration and amount of any such future
dividends, however, will be determined by new Marshall &
Ilsley's board of directors and will depend on new Marshall &
Ilsley's earnings and any other factors that the board of directors
believes are relevant. Marshall & Ilsley Corporation (NYSE:MI)
is a diversified financial services corporation headquartered in
Milwaukee, Wis. 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. 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 is operated by Metavante Technologies, Inc.
(NYSE:MV), a holding company that anticipates to begin trading on
the New York Stock Exchange on Nov. 2, 2007. DATASOURCE: Marshall
& Ilsley Corporation CONTACT: Greg Smith, +1-414-765-7727, or
Dave Urban, +1-414-765-7853, both of Marshall & Ilsley
Corporation; or Chip Swearngan of Metavante Technologies, Inc.,
+1-414-357-3688 Web site: http://www.micorp.com/
http://www.mibank.com/
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