The proposed $3.6 billion merger between Chemical Financial Corp. and TCF Financial Corp. would create a Midwest bank based in Michigan that’s able to compete with the largest national banks and that’s likely to pursue further acquisitions. Under the $3.6 billion all-stock deal, the Wayzata, Minn.-based TCF Financial (NYSE: TCF) would merge into the Detroit-based Chemical Financial (Nasdaq: CHFC). Once the deal closes, Chemical Bank locations would take on the TCF name.
The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.
The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.
ZEELAND — When a lawsuit surfaced showing one of West Michigan’s largest corporate farmers was facing insolvency, the news sent shockwaves through the state’s agricultural industry.
As a business consulting firm, O’Keefe & Associates Consulting LLC has increasingly seen a need to advise its clients on the best ways to invest in automation equipment. Tim Thompson, the firm’s managing director at its Grand Rapids office, spoke with MiBiz about how investing in automation equipment can affect an organization’s long-term investment strategies.