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Capital One–Discover merger

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Capital One–Discover merger
InitiatorCapital One
TargetDiscover Financial
TypeFinancial full acquisition
CostUS$35 billion
Initiated2025
CompletedEarly 2025
Resulting entityCapital One

In February 2024, Capital One announced it planned to acquire Discover Financial for over $35 billion.

In September 2024, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the United States Department of Justice Antitrust Division instituted new guidelines which call for stricter reviews of bank deals. According to Bloomberg News, this signals that federal regulators are increasing scrutiny of the deal.

In October 2024, it was reported that Attorney General of New York Letitia James is investigating whether the deal may violate state antitrust law.

Donald Trump's victory in the 2024 election has given investors more confidence that the deal will go through.

References

  1. Hirsch, Lauren; Goldberg, Emma (February 19, 2024). "Capital One to Acquire Discover, Creating a Consumer Lending Colossus". The New York Times – via NYTimes.com.
  2. Thomas, AnnaMaria Andriotis and Lauren. "Capital One Is Buying Discover Financial for $35 Billion".
  3. Jones, Callum (March 6, 2024). "Capital One and Discover merger 'dangerous', consumer groups tell Fed". The Guardian.
  4. "Capital One-Discover Deal Hits Roadblock in Bank Merger Overhaul".
  5. Stempel, Jonathan (2024-10-28). "New York probing legality of Capital One-Discover merger". Reuters.
  6. "Trump Victory Renews Faith in Discover-Capital One Merger".
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