Robbins Umeda LLP Announces an Investigation of the Acquisition of Marshall & Ilsley Corp. by BMO Financial Group
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors (“Board”) of Marshall & Ilsley Corporation (“Marshall & Ilsley”) (NYSE: MI) in connection with their efforts to sell Marshall & Ilsley to BMO Financial Group (“BMO”) (TSX: BMO NYSE: BMO). If the transaction is completed, each outstanding share of Marshall & Ilsley will be exchanged for 0.1257 shares of Bank of Montreal. Based on the closing share price of Bank of Montreal on the TSX of C$62.05 on December 16, 2010, the transaction values each share of Marshall & Ilsley at US$ 7.75. The transaction is expected to be completed on or around January 10, 2011. The transaction is expected to close prior to July 31, 2011.
Robbins Umeda LLP’s investigation concerns whether Marshal & Ilsley’s Board undertook a fair process to obtain fair consideration for all shareholders of Marshall & Ilsley. Specifically, our investigation concerns whether members of the company’s board breached their fiduciary duties to Marshall & Ilsley shareholders by failing to adequately shop the company before entering into the transaction with BMO Financial Group.
If you are a shareholder of Marshall & Ilsley and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.