Bloomberg News

Bank of Montreal Says It Wins Approvals to Buy Marshall & Ilsley

June 21, 2011

June 21 (Bloomberg) -- Bank of Montreal, Canada’s fourth- largest bank, said it received regulatory approvals to complete its acquisition of Marshall & Ilsley Corp. and that the deal won’t require an additional stock offering.

Bank of Montreal, which previously said it may have to sell “less than” C$400 million ($412 million) in stock to buy Milwaukee-based M&I, has received all “key” bank regulatory approvals, the Toronto-based company said today in a statement. The companies expect to complete the transaction on July 5, according to the statement.

--With assistance from Greg Chang in San Francisco. Editors: Peter Eichenbaum, William Ahearn

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; David Scheer at dscheer@bloomberg.net.


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