Marshall & Ilsley to decide Metavante split on Oct. 25

By Lisa Kerner

Charlotte, N.C., Sept. 20 - Marshall & Ilsley Corp. announced it will hold a special meeting of shareholders at 11 a.m. ET on Oct. 25 in Milwaukee.

Shareholders of record as of Sept. 19 will be asked to consider and vote on

• The April 3 investment agreement that would split Marshall & Ilsley and Metavante Corp. into independent public companies;

• The adjournment of the meeting for the purpose of soliciting additional proxies; and

• Other company business.

It was previously reported that Marshall & Ilsley would form independent public companies as the result of an investment agreement with equity investor Warburg Pincus. The investor agreed to invest $625 million to acquire an equity stake of 25% in Metavante, with Marshall & Ilsley shareholders owning the remaining 75%, a company news release stated.

Marshall & Ilsley shareholders will receive one share of Marshall & Ilsley stock and one share of Metavante stock for every three shares of Marshall & Ilsley stock held.

Marshall & Ilsley is a diversified financial services corporation based in Milwaukee, Wis. Metavante delivers banking and payments technologies to financial services firms and businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.