Kendall Law Group Investigates Marshall & Ilsley Corp. Acquisition for Shareholders
18 December 2010 - 2:18AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Marshall & Ilsley Corp. (NYSE: MI) for
shareholders in connection with the proposed acquisition by Bank of
Montreal. The national securities firm’s investigation seeks to
determine whether Marshall & Ilsley and its Board breached
their fiduciary duties by entering into the agreement without
properly shopping for a deal that would provide better value for
shareholders. If you are a Marshall & Ilsley shareholder and
would like additional information about your rights, contact the
Kendall Law Group at 877-744-3728 or by email at
skendall@kendalllawgroup.com.
On December 17, 2010, the companies announced the definitive
merger agreement under which Marshall & Ilsley would be
acquired by Bank of Montreal, in a transaction valued at
approximately $4.1 billion. Under the terms of the agreement,
Marshall & Ilsley stockholders will receive 0.1257 shares of
Bank of Montreal for each share of Marshall & Ilsley/MI common
stock. The deal values Marshall & Ilsley at US$7.75 a share
based on the Dec. 16, 2010 closing share price of Bank of Montreal
on the TSX. According to Thompson/First Call, analysts have set a
price target as high as $9.50 per share for Marshall & Ilsley
stock. Due to these factors, the firm believes the transaction
significantly undervalues the company.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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