Marshall & Ilsley Corp. said Thursday that it intends to offer $400 million of common stock, forgoing plans to raise $350 million in an at-the-market offering.
M&I expects the new offering to raise $384 million, which would be used for "general corporate purposes" and possibly to repay the $1.7 billion it received under the Treasury Department's Troubled Asset Relief Program last year.
Last month M&I said it would issue common stock through brokers on the New York Stock Exchange. The new offering will be a traditionally underwritten one.
A spokeswoman for the $61.8 billion-asset Milwaukee company said executives were unavailable for comment.
