Marshall & Ilsley split from Metavante gets shareholder OK

By Lisa Kerner

Charlotte, N.C., Oct. 25 - Marshall & Ilsley Corp. shareholders approved splitting the company and Metavante Corp. into two independent public companies at a special meeting held Thursday.

The transaction is slated to close on Nov. 1, according to a company news release.

Beginning Nov. 2, new shares of Marshall & Ilsley stock will trade on the New York Stock Exchange under the same "MT" symbol and the new holding company Metavante Technologies, Inc. will trade under the symbol "MV."

It was previously reported that 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.

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