Babaamaajimowinan (Telling of news in different places)
Babaamaajimowinan (Telling of news in different places)
Capital One is expected to announce plans to buy Discover Financial Services in a deal that, if completed, would merge two of the largest credit card companies in the United States. (Joe Raedle/Getty Images)
Capital One is purchasing Discover Financial Services for $35.3 billion, the banking giant announced Monday - an all-stock deal that brings together two of the country's largest credit card companies.
The two financial giants combined would become the biggest credit card lender in the nation, according to data compiled by Bloomberg Intelligence. Discover, based in Riverwoods, Ill., has a market value of nearly $28 billion, while McLean, Va.-based Capital One is valued at about $52 billion.
Under the deal's terms, Discover shareholders will receive a little over one share of Capital One for every Discover share they own - a 26.6 percent premium from Discover's closing share price of $110.49 on Friday.
https://www.washingtonpost.com/business/2024/02/19/capital-one-discover-merger/
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