Marshall & Ilsley (MI) Higher On Reports of Sponsored Spin-Off

Shares of Marshall & Ilsley Corp. (NYSE: MI) are 7% higher in pre-open trading Tuesday on reports from the Wall Street Journal, the company is near a sponsored spin off of its Metavante Corp. unit, with private equity firm Warburg Pincus taking a minority stake in the spin-off. The deal is expected to be announced in the next few days. Link $