Marshall & Ilsley announced its shareholders approved the merger agreement with Bank of Montreal in which BMO will acquire all outstanding shares of common stock of M&I in a stock-for-stock transaction.

The U.S. Department of Treasury, as the sole holder of M&I Series B, preferred stock, delivered a proxy approving the merger agreement. 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.

Previously on monitordaily: M&I To Be Renamed BMO Harris Bank After Acquisition, published April 6, 2011