Capital One (COF) is reportedly in talks to acquire Discover Financial Services (DFS) in an all-stock deal valued at $35 billion. It represents the latest in a wave of mergers and acquisitions, with global M&A activity reaching $425 billion in 2024 year-to-date according to a Bloomberg report — a 55% increase versus last year. Of that $425 billion global total, $277 billion stems from deals announced in the United States alone, per Dealogic data. Yahoo Finance's Julie Hyman and Josh Lipton 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
Capital One (COF) is reportedly in talks to acquire Discover Financial Services (DFS) in an all-stock deal valued at $35 billion. It represents the latest in a wave of mergers and acquisitions, with global M&A activity reaching $425 billion in 2024 year-to-date according to a Bloomberg report — a 55% increase versus last year.
Of that $425 billion global total, $277 billion stems from deals announced in the United States alone, per Dealogic data.
Yahoo Finance's Julie Hyman and Josh Lipton 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 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 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.
TechCrunch
Ford is cutting prices of its all-electric 2023 Mustang Mach-E by has much as $8,100 as the automaker attempts to rid itself of inventory and compete with Tesla and its increasingly cheaper EVs. That extra incentive is in addition to the tax credit Ford Credit already passes on to consumers.
Reuters
One of the world's biggest criminal hacking gangs woke up on Tuesday to a startling discovery: Law enforcement, after taking over their main website on Monday, were now threatening to reveal their personal details and data about their cybercrime organisation. The group, Lockbit, had become notorious in cybercrime circles for using malicious software called ransomware to digitally extort victims, relying on underground marketing campaigns to boost its profile. At one point, Lockbit had promised $1,000 to anyone who tattooed their logo on themselves, according to cybersecurity researchers.
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