Capital One Acquires Discover Financial Services
February 19, 2024
Capital One Financial Corporation completed a definitive all-stock acquisition of Discover Financial Services, exchanging 1.0192 Capital One shares for each Discover share and creating a combined global payments and banking platform. The transaction brings together Capital One's technology-enabled banking franchise and Discover's payments network to scale merchant acceptance, expand consumer and small-business offerings, and generate significant cost and network synergies.
- Buyers
- Capital One Financial Corporation
- Targets
- Discover Financial Services
- Sellers
- Discover Financial Services shareholders
- Industry
- Financial Services
- Location
- Illinois, United States
- Transaction Type
- Buyout
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