Marshall & Ilsley shareholders approve split from Metavante

Source: Marshall & Ilsley

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.

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.

Comments: (0)