Capital One to Acquire Discover, Boosting Credit Card Offerings and Customer Base. Here's What You Need To Know

  • 5 months ago
Capital One Financial is acquiring Discover Financial Services in a $35.3 billion all-stock deal. Under the agreement, Discover shareholders will receive 1.0192 Capital One shares for each Discover share. The merger will expand Capital One's credit card offerings and deposit base, and it would make Capital One one of the largest credit card issuers and boost its customer base. Capital One plans to keep the Discover brand while using Visa and Mastercard networks. The deal is expected to close in late 2024 or early 2025, pending regulatory approval.