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Consolidation activity was ho-hum for most of April before a burst of transactions — and notable ones at that — were announced in the month's final week.
Chemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. The combined company will be based in Detroit, Chemical's hometown, and operate under the TCF brand.
The low-cost deposits that come with the deal for 52 Wells branches in four states should fund the Michigan company's effort to become a commercial lender.
June 5, 2018
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