June 21, 2011 / 1:33 PM / 7 years ago

Fed OKs Bank of Montreal buy of Marshall and Ilsley

WASHINGTON, June 21 (Reuters) - The U.S. Federal Reserve said on Tuesday it had approved the application of Bank of Montreal (BMO.TO) to acquire Marshall & Ilsley Corp MI.N.

    Bank of Montreal agreed to buy Marshall & Ilsley for $4.1 billion on Dec. 17. On May 17, Marshall & Ilsley said its shareholders had approved the merger, which is expected to occur prior to July 31. (Reporting by Tim Ahmannl; Editing by Andrea Ricci)

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