Merger between FCA and Peugeot finalized amid concern over business deal
Fiat Chrysler Shareholders of Fiat Chrysler and France's PSA Group met Monday, Jan. 4, 2021 to vote on a merger that will create the world's fourth-largest automaker. (AP Photo/Michel Euler, File)DETROIT – The merger between Peugeot maker PSA and Fiat Chrysler Automobiles that will lead to the creation of Stellantis was complete Saturday. The Peugeot and FCA merger has been the subject of much controversy. Speaking to Local 4 News earlier this month, Frank Rhodes, the great grandson of Walter Chrysler who founded famed auto company Chrysler in 1924 expressed concern over the business deal. Read more: Great grandson of Walter Chrysler worries about fate of automaker
TCF Center to be renamed again after TCF, Huntington banks announce merger
DETROIT – Huntington Bancshares Incorporated -- the parent company of Huntington Bank -- and TCF Financial Corporation -- the parent company of TCF National Bank -- announced Sunday the companies would combine in an all-stock merger, with a total market value of about $22 billion. The company said it will have two headquarters, one in Detroit and one in Columbus, Ohio. The Detroit headquarters will employee at least 800 people, about three times more than TCF had planned. Columbus will remain the headquarters for the holding company and the consumer bank. With the removal of the TCF branding, the TCF Center -- recently renamed in late 2019 -- will be renamed the Huntington Center.
FCA, Groupe PSA merger officially named Stellantis
DETROIT The merger between Fiat Chrysler Automobiles (FCA) and Groupe PSA (PSA Peugeot) has born a new name: Stellantis. Actually, its officially STELL/\NTIS, a name rooted in the Latin verb stello meaning to brighten with stars, according to the automakers joint news release on Wednesday. FCA and PSA announced in December they signed a binding merger deal creating the worlds fourth-largest auto company with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies. The companies said the new group will be led by PSAs cost-cutting CEO Carlo Tavares, with Fiat Chryslers chairman John Elkann as chairman of the merged company. Fiat Chrysler CEO Mike Manley will stay on, but it was not announced in what capacity.