41.14 F
London
December 23, 2024
PI Global Investments
Finance

Capital One to Buy Discover Financial in All-Stock Deal (COF, DFS)


Capital One Financial Corp. agreed to buy Discover Financial Services in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street’s behemoths.

Capital One will pay 1.0192 of its own shares for each Discover share, a 26.6% premium to the closing price on Feb. 16, the McLean, Virginia-based company said in a statement. The transaction, first reported by Bloomberg News, is expected to complete in late 2024 or early 2025, pending regulatory and shareholder approvals of both firms.



Source link

Related posts

How to clinch a UK pension worth €12,500 a year ???????????????????????????????????????????????????????????????????????????????????????????

D.William

Give BP’s ‘continuity candidate’ time to succeed or fail on net-zero strategy | Nils Pratley

D.William

Readers’ questions: ‘Can my golf club claim my unspent bar vouchers for its accounts?’

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.