Marshall & Ilsley says its shareholders have approved company's sale to Bank of Montreal for stock transaction valued at US$4.1B; deal expected to close before July 31

Cindy Allen

Cindy Allen

May 17, 2011 – Associated Press

MILWAUKEE , May 17, 2011 () – Marshall & Ilsley Corp. said Tuesday that its shareholders have approved the financial services company's sale to Bank of Montreal in a stock transaction that was valued at $4.1 billion when the deal was reached in December.

The U.S. Department of Treasury, which owns Series B preferred shares in Marshall & Ilsley, also delivered a proxy approving the proposed sale.

The transaction is expected to close before July 31.

Shares in Mashall & Ilsley added 6 cents to $7.86 in afternoon trading. Shares in Bank of Montreal rose 42 cents to $62.94.

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