TCF’s $22 Billion Merger With Huntington


Simpson Thacher represented TCF Financial Corporation in the transaction.

TCF Financial Corporation (NASDAQ: TCF) closed its agreement to merge with Huntington Bancshares Incorporated (NASDAQ: HBAN) in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit, Michigan and Columbus, Ohio. The combined holding company and bank will operate under the Huntington name and brand following the closing of the transaction.

TCF is a Detroit, Michigan-based financial holding company with $48 billion in total assets at September 30, 2020 and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients.

Huntington Bancshares Incorporated is a bank holding company headquartered in Columbus, Ohio. Huntington provides online banking solutions, mortgage, investing, loans, credit cards, and personal, small business, and commercial financial services.

The Simpson Thacher team representing TCF included Lee Meyerson (Picture), Sebastian Tiller, Yui Hirohashi, Chia-Chen Lee and Richard Zhang (M&A); Adam Cohen and Spencer Sloan (Bank Regulatory); and David Rubinsky, Alisa Tschorke and Allison Sweeney (Executive Compensation and Employee Benefits).

Involved fees earner: Adam Cohen – Simpson Thacher & Bartlett; Yui Hirohashi – Simpson Thacher & Bartlett; Chia-Chen Lee – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett; Allison Sweeney – Simpson Thacher & Bartlett; Sebastian Tiller – Simpson Thacher & Bartlett; Alisa Tschorke – Simpson Thacher & Bartlett; Junqi Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: TCF Financial;

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Author: Ambrogio Visconti