Rigrodsky & Long, P.A. Investigates Marshall & Ilsley Corporation Buyout
December 17 2010 - 9:45AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Marshall &
Ilsley Corporation (“M&I” or the “Company”) (NYSE: MI)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by BMO Financial Group (TSX NYSE: BMO) (“Bank of
Montreal”) in a stock-for-stock transaction valued at approximately
USD$4.1 billion. Click here to learn how to join the action:
http://www.rigrodskylong.com/news/MarshallIlsleyCorporation-MI.
Under the proposed agreement, each outstanding share of M&I
will be exchanged for 0.1257 shares of Bank of Montreal upon
closing. Based on the closing share price of Bank of Montreal on
the Toronto Stock Exchange of CAD$62.05 on December 16, 2010, the
transaction values each share of M&I at USD$7.75.
The investigation concerns whether M&I’s board of directors
failed to adequately shop the Company and obtain the best price
possible for BMO’s shareholders before entering into the agreement
with Bank of Montreal. Indeed, according to Yahoo! Finance, at
least one analyst has set a price target of USD$9.50 per share for
M&I stock.
If you own the common stock of M&I and purchased your shares
before December 17, 2010, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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