Capital One to buy Discover for $35 billion in deal that combines major US credit card companies
Written by Black Hot Fire Network on February 20, 2024
NEW YORK -- Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation's credit card companies as well as potentially shake up the payments industry, which is largely dominated by Visa and Mastercard.
Under the terms of the all-stock transaction, Discover Financial shareholders will receive Capital One shares valued at nearly $140. That's a significant premium to the $110.49 that Discover shares closed at Friday.
The deal marries two of the largest credit card companies . . .
