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BREAKING: First Indiana to be bought by Marshall & Ilsley

July 9, 2007
Indianapolis-based First Indiana Corp. said today it has signed a definitive agreement to be acquired for $529 million by Marshall & Ilsley, a Milwaukee-based financial services firm.

First Indiana, which has $2.1 billion in assets, has 32 branches in central Indiana. The branches will become Marshall & Ilsley branches after the deal closes.

The deal is expected to close late this year or early 2008.

This story will be updated.
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