Marshall & Ilsley Corporation Shareholders Approve Merger Agreement With Bank of Montreal

Marshall & Ilsley Corporation MI today announced that the holders of its common stock approved the merger agreement with Bank of Montreal BMO pursuant to which BMO will acquire all outstanding shares of common stock of M&I in a stock-for-stock transaction. In addition, pursuant to the terms of a Securities Purchase Agreement with respect to sale of its M&I Senior Preferred Stock, Series B, the U.S. Department of Treasury, as the sole holder of the preferred stock, delivered a proxy approving the merger agreement, which proxy was contingent on, and became automatically effective upon the approval of, the merger agreement by the holders of M&I's common stock. The closing of the merger remains subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to occur prior to July 31, 2011.