Shares of M&I were up 18 percent at $6.83 in New York. That news drove BMO shares down 6.4 percent to C$58.11 on the Toronto Stock Exchange. It will issue about C$800 million ($792 million) in new shares to help fund the acquisition. Midwest and more than doubles the branch network it runs through its Chicago-based Harris Bank unit. 4 bank said on Friday the deal adds to its position in the U.S. Bank of Montreal will buy troubled Wisconsin lender Marshall & Ilsley Corp for $4.1 billion in an all-stock deal, the biggest in a series of deals in which Canadian banks have snapped up weakened rivals.Ĭanada's No.
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March 2023
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