Capital One Financial to Acquire Discover Financial Services in $35 Billion Deal

Published: 20 February 2024 at 01:51

Capital One Financial is set to acquire Discover Financial Services in a $35 billion all-stock deal, with Discover shareholders receiving 1.0192 Capital One shares for each Discover share, resulting in a 26% premium. The merger, expected to close in late 2024 or early 2025, would make Capital One shareholders hold 60% and Discover shareholders 40%. Both companies, major credit card issuers in the U.S., stand to benefit from expanded offerings and increased deposit base. The deal, a significant move in the financial sector, comes amidst regulatory pressures and leadership changes for Discover.

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