A PYMNTS Company

US: Chemical, TCF banks get regulatory approval for merger

By  |  July 17, 2019

The last major hurdle to TCF Financial merging into Chemical Financial  has been cleared, reported Twin Cities Business.

The banks announced on Tuesday, July 16, they have received the needed regulatory approval to combine forces. The merger would create one of the 50 largest banks in the United States and be headquartered in Detroit. The companies stated in a filing with the Securities and Exchange Commission that they expect to close the merger August 1.

The combined bank will take on the TCF Financial name, but will reside in the new US$105 million 20-story, mixed-use building planned at Woodward and West Elizabeth near Comerica Park.

Full Content: Twin Cities Business

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.