Posted 2/20/2024, 11:35:00 PM
Capital One to Acquire Discover in $35B Credit Card Megamerger
- Capital One is acquiring Discover Financial Services for $35.3 billion in an all-stock deal
- The merger combines two major credit card companies that have large, similar customer bases
- Discover has over 5,000 employees in the Chicago area whose jobs could be impacted
- Capital One plans to keep Discover's branding due to its loyal customers and high satisfaction
- The deal is expected to close later this year; cardholders won't see changes until communicated