TCF Financial-Chemical Financial merger timeline
August 1, 2019 at 9:02PM
TCF Financial CEO Craig Dahl and Chemical Financial CEO David Provost had met previously at industry events and talked generally about the banking conditions and trends.
May 11, 2018: Dahl contacts Provost to discuss general terms of a merger
May 24, 2018: TCF and Chemical enter into confidentiality agreement to begin merger discussions.
Oct. 8, 2018: Non-binding term sheets are exchanged
Oct. 17, 2018: Management teams meet in Minneapolis for additional in-person due diligence sessions.
Nov. 2, 2018: Talks discontinue amid general stock market volatility
Nov. 30, 2018: Dahl, Provost and Chemical's Gary Torgow meet in New York to re-engage discussions despite market volatility
Jan. 28, 2019: TCF and Chemical announce merger of equals.
June 7, 2019: Shareholders of both companies approve the merger.
June 21, 2019: Regulatory approval from the Office of the Comptroller of the Currency.
July 16, 2019: Regulatory approval from the Board of Governors of the Federal Reserve System
Aug. 1, 2019: TCF and Chemical officially close their merger
Source: Company proxy statements
Patrick Kennedy
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The new plant, expected to come online in 2028, will scrub PFAS chemicals from the city’s water supply. Much of the cost will be covered by 3M settlement money.
