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WISCONSIN'S LARGEST BANK SOLD
Friday, December 17th, 2010 -- 12:39 pm
Posted by Riley Hebert-News Director
Wisconsin’s largest bank has been sold.
Canada-based BMO Financial Group, the parent company of Harris Bank, said this morning it has agreed to buy M & I Bank for $4.1 billion.
The deal values Marshall & Ilsley at $7.75 a share, compared with yesterday's closing price of $5.79 on the New York Stock Exchange.
M & I has posted eight consecutive quarterly losses. They've been hit hard by the housing slump and recession.
M & I has branches in Neillsville and Marshfield.
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