Marshall & Ilsley launches $400M stock offering
July 6, 2009
By MoneyAisle
Forbes reports that Milwaukee-based bank Marshall & Ilsley Corp. has “launched a public offering of $400 million worth of its common stock, slightly more than it originally intended.”
In addition to the common stock offering, the bank plans on giving underwriters an option of purchasing up to an extra 15 percent of the total number of shares sold.
It is possible that M&I will use some of the money it raises to pay back a part of the $1.7 billion it received in TARP funds.