visimoney
TLDR:
Capital One Financial is set to acquire Discover Financial Services, expanding Capital One’s credit card offerings. The deal, reported by The Wall Street Journal, could be announced as early as Tuesday. This comes after a report from Bloomberg News that Capital One was considering an acquisition.
In this breaking news report, it is revealed that Capital One Financial is in the process of acquiring Discover Financial Services. The merger of the two companies, both major credit card issuers in the U.S., is expected to be announced soon. Capital One’s market cap is $52.2 billion, with shares up 4.6% in 2024, while Discover’s market cap is $27.63 billion, with shares down 1.7% for the year.
This acquisition would have significant implications for the credit card industry, as Capital One seeks to expand its offerings and market share through the acquisition of Discover Financial Services.
