Posted 2/20/2024, 6:31:00 AM
Capital One to Acquire Discover in $35 Billion Deal, Forging New Card Industry Leader
- Capital One to acquire Discover in an all-stock, $35B deal, would create largest US card issuer
- Deal gives Capital One access to Discover's global payments network
- Analysts expect scrutiny from regulators but see potential value from scale and reduced risk
- Combined company would have $257B in card loans outstanding, surpassing JPMorgan Chase
- Deal poses some threat to Visa and Mastercard if Capital One steers volume to Discover's network