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MB Financial estimates net proceeds, closing date of depositary share offering

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MB Financial estimates net proceeds, closing date of depositary share offering

MB Financial Inc.'s offering of 8 million depositary shares is expected to close Nov. 22.

The depositary shares, priced at $25 each, are for the Chicago-based company's 6.00% series C preferred stock. Net proceeds, pegged at $194.4 million, will go toward the partial or full redemption of its series A preferred stock at $25 each, plus dividends.