Capital One-Discover deal awaits regulatory approval
02/21/2024 01:18
Capital One (COF) has agreed to acquire Discover Financial Services (DFS) in an all-stock transaction valued at over $35 billion. The deal aims to strengthen Capital One's position in the competitive credit card industry. However, the potential merger still requires regulatory approval before it can be finalized. Yahoo Finance's Rachelle Akuffo and Akiko Fujita break down the details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
The Wall Street Journal
Capital One Calls Discover’s Credit Card Network a ‘Holy Grail’
Capital One Financial said Tuesday it expects its acquisition of Discover Financial will help it add over 25 million card holders and more than $175 billion in purchase volume by 2027. Capital One said Monday [it will buy Discover for more than $35 billion](https://www.wsj.com/finance/capital-one-is-buying-discover-financial-sources-say-a7c43dd2), combining two of the largest U.S. credit card companies. Capital One expects to close the deal by early 2025.
Associated Press Finance
Capital One's bid for Discover carries expectation that Americans won't slow credit card use
Capital One Financial is betting that Americans will keep shopping and use a credit card to pay for their purchases at stores and on the internet. Capital One announced Monday that it would buy Discover Financial Services for $35 billion. The deal marries two of the largest credit card companies that aren't banks first, like JPMorgan Chase and Citigroup, with the notable exception of American Express.