| Metavante Corp spinoff by Marshall & Ilsley |
Marshall and Ilsley Corp of Milwaukee
WI (stock symbol MI) issued shares of
Metavante Corp of Milwaukee WI
(symbol MV) in a non-taxable spinoff
on 11/2/2007. One (1) share of
Metavante Corp was received for
every three (3) shares of Marshall
and Ilsley stock owned on the record
date of 8/31/2007.
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Using the "final closing price" method for relative market values on the first day of separate
"regular-way" trading, the following allocation percentages should be applied to your original
basis in Marshall and Ilsley shares to determine your new cost basis in both stocks:
11/2/2007 Distribution Market Percentage
Closing Price Ratio Value of Mkt Value
Metavante Corp (MV) $25.10 x 1 = $25.10 20.52%
Marshall and Ilsley (MI) $32.40 x 3 = 97.20 79.48%
Total $122.30 100.00%
The cost allocation percentages are based on these values:
Metavante: $25.10 divided by $122.30 = .2052 or 20.52%
Marshall & Ilsley: $97.20 divided by $122.30 = .7948 or 79.48%
Your holding period for Metavante Corp shares will be the same as the acquisition
date for your Marshall and Ilsley shares.
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Use our handy spinoff calculator to
compute your new cost basis and the
gain or loss on any "cash in lieu" of
fractional shares payment. Just click
on the image of the spinner to the right
and then select "Metavante" from the
drop-down menu. Many fields will be
pre-filled for you. Simply add your own
cost basis information for Marshall and
Ilsley.
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| Spinoff Calculator |
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Subsequent Development:
Metavante (MV) announced an agreement to be purchased by Fidelity National Information Services Inc (FIS). The transaction is structured as a tax-free all-stock merger with 1.35 shares of FIS issued for each share of MV and is due to close before 9/30/2009. Your cost basis and holding period will carry over from your MV shares to your new FIS shares. Only the cash payment received in lieu of fractional shares will be taxable. Use our merger calculator to calculate your new cost per share and the gain or loss on the cash in lieu payment by clicking on the image to the right.
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| Stock Merger Calculator |
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