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
Location
Illinois, United States
Transaction Type
Buyout

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