Sponsored Spinout at M&I?

Warburg Pincus and Marshall & Ilsley Corp. are planning to transact a sponsored spinout of M&I's payment processing unit Metavante, according to The Wall Street Journal. The deal could be worth $4 billion, with Metavante being spun out to shareholders in a tax-free transaction, with Warburg Pincus paying cash for a significant minority ownership position. www.warburgpincus.com www.mibank.com