Capital One completes $35.3bn acquisition of Discover Financial Services

From Yahoo Finance: 2025-05-19 06:36:00

Capital One Financial has successfully acquired Discover Financial Services for $35.3bn after receiving regulatory approvals. Shareholders from both companies voted in favor of the acquisition. The board of directors at Capital One has expanded to include members previously from Discover. Customer accounts and services will remain the same for now. The acquisition will integrate Discover’s networks into Capital One’s offerings. Legal advisory services were provided by Wachtell, Lipton, Rosen & Katz for Capital One and Sullivan & Cromwell for Discover. Capital One reported $367.5bn in deposits and $493.6bn in total assets as of March 30, 2025. CEO Richard Fairbank expressed excitement for the future collaboration between the two companies.



Read more at Yahoo Finance: Capital One closes $35.3bn acquisition of Discover Financial Services