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Chemical Financial/TCF Financial deal has $134M termination fee

Jan 29, 2019 - SNL Financial

The merger agreement between Detroit-based Chemical Financial Corp. and Wayzata, Minn.-based TCF Financial Corp. provides for a termination fee of $134.0 million.

The termination fee will be paid by either Chemical Financial or TCF Financial, to the other party, upon termination of the agreement under certain circumstances.