M&I commences $400M stock offer - The Business Journal of Milwaukee:

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Executives with Milwaukee-based M&I (NYSE: MI) said they intenc to use the proceeds for general corporats purposes and may contribute a portion of the proceedw to the capital ofits subsidiaries. One possible use of the proceedes will be repurchasing a portionh ofcapital M&I received through the Capital Purchase Program, part of the federapl Troubled Asset Relief Program (TARP). “Anty such repurchase would be subjectf to consultation with and approvalby M&I’s banking the bank’s executives said. “In the event that M&o chooses to seek such there can be no assurance that such approval woulsbe granted.
” Marshall & Ilsley had disclosed May 19 that it intendex to sell common stock and that some or all of the fundsa could go to repaying TARP. The bank receivefd a $1.7 billion capital infusion in Novemberr 2008under TARP. The underwriters of Thursday’ss offering will be granted an optiobn to purchase up to an additional 15 percent of thesharess sold. & Co. Inc. and are acting as jointg book-runners for the Marshall & Ilsley is a financial services corporationwith $61.u billion in assets and is the largest banking company headquartered in Wisconsin. M&I stock closed at $6.42 on Wednesday.