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Marshall & Ilsley Corporation Shareholders Approve Merger Agreement With Bank Of Montreal

Stocks in this article: BMO MI

MILWAUKEE, May 17, 2011 /PRNewswire/ -- Marshall & Ilsley Corporation (NYSE: MI) (M&I) today announced that the holders of its common stock approved the merger agreement with Bank of Montreal (TSX NYSE: BMO) pursuant to which BMO will acquire all outstanding shares of common stock of M&I in a stock-for-stock transaction. In addition, pursuant to the terms of a Securities Purchase Agreement with respect to sale of its M&I Senior Preferred Stock, Series B, the U.S. Department of Treasury, as the sole holder of the preferred stock, delivered a proxy approving the merger agreement, which proxy was contingent on, and became automatically effective upon the approval of, the merger agreement by the holders of M&I's common stock. The closing of the merger remains subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to occur prior to July 31, 2011.

Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $49.6 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 188 offices throughout the state. In addition, M&I has 53 locations throughout Arizona; 36 offices along Florida's west coast and in central Florida; 33 offices in Indianapolis and nearby communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; 17 offices in the greater St. Louis area; 15 offices in Kansas City and nearby communities; and one office in Las Vegas, Nev. 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 ( www.mibank.com or www.micorp.com).

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this communication are forward-looking statements under the United States Private Securities Litigation Reform Act of 1995 (and are made pursuant to the 'safe harbor' provisions of such Act). These forward-looking statements include, but are not limited to, statements with respect to the expected closing of the proposed acquisition of M&I by Bank of Montreal, plans for the acquired business and the financial impact of the acquisition and are typically identified by words such as "believe", "expect", "anticipate", "intend", "estimate", "plan", "should", "may", "could" and other similar expressions.

By their nature, forward-looking statements are based on various assumptions and are subject to inherent risks and uncertainties. We caution readers of this communication not to place undue reliance on our forward-looking statements as the assumptions underlying such statements may not turn out to be correct and a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

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