Share this article
Share this article
SAN DIEGO, Dec. 15, 2020 /PRNewswire/ Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of TCF Financial Corporation ( TCF or the Company ) (NASDAQ:TCF) breached their fiduciary duties in connection with the proposed sale of the Company to Huntington Bancshares Incorporated ( Huntington ) (NASDAQ:HBAN).
On December 14, 2020, TCF announced that it had entered into a definitive merger agreement with Huntington. TCF shareholders will receive 3.0028 shares of Huntington stock for each share of TCF common stock they hold, implying a total consideration of $38.82 based on Huntington s December 11, 2020 closing price of $12.93. TCF shareholders will be subject to the future price fluctuation of Huntington s stock price.