BMO To Double US Size With $4B Marshall & Ilsley Buy

Law360, New York (December 17, 2010, 3:24 PM EST) -- BMO Financial Group on Friday said it would acquire Marshall & Ilsley Corp. in an all-stock deal valued at CA$4.1 billion ($4.05 billion), allowing the Canadian banking giant to more than double its retail locations in the U.S.

BMO said it has signed a definitive agreement to trade 0.1257 shares of its stock, which closed at CA$62.05 ($61.28) on Thursday, for each outstanding common share in the Milwaukee financial services firm.

The deal values Marshall & Ilsley stock at CA$7.75 ($7.65) per share, a 34 percent...
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