Capital One Financial is set to acquire Discover Financial Services in a $35.3 billion all-stock deal , the companies announced late Monday.
The companies said they expect the deal to close in late 2024 or early 2025 , after which Capital One shareholders would hold 60% and Discover shareholders would own 40% of the combined company. The merger of the two companies, which are among the largest credit card issuers in the U.S., would expand Capital One's credit card offerings and its deposit base. The company bought digital concierge service Velocity Black , a premium credit card and luxury market platform, in June of last year.
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Source: CNBC - 🏆 12. / 72 Read more »