Business

Briefs: Westell hires new strategy officer

Posted August 22, 2007 11:00 pm

AURORA -- Westell Technologies Inc., a provider of convergence gateways to telecommunications providers, broadband access solutions and conferencing services, has appointed Timothy R. Pillow as its first chief marketing and strategy officer. Pillow formerly served as executive vice president and global team leader at Nortel Networks.

Merger approved for MAF, National

CLARENDON HILLS --MAF Bancorp Inc., parent of MidAmerica Bank, Wednesday announced that MAF stockholders approved the company's merger with National City Corp. The merger was announced May 1. MAF stockholders will receive shares of National City common stock in a tax-free exchange. The exchange ratio for each share of MAF stock will be determined by dividing $56 by the average closing price of National City's common stock for the 20 trading days immediately preceding Federal Reserve Board approval of the merger.

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