Capital One to buy Discover for $35 billion in deal that combines major US credit card companies – The Denver Post
NEW YORK — Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers.
Discover Financial shareholders will receive Capital One shares valued at nearly $140, according to a news release issued by the companies Monday. Discover shares closed Friday trading at $110.49.
Virginia-based Capital One was the 12th largest U.S. bank as of the third quarter, with $471.4 billion in total assets and $346 billion in deposits, according to S&P Global. Illinois-based Discover was the 33rd biggest, with $143.4 billion in assets and $104 billion in deposits.
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NEW YORK — Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers.
Discover Financial shareholders will receive Capital One shares valued at nearly $140, according to a news release issued by the companies Monday. Discover shares closed Friday trading at $110.49.
Virginia-based Capital One was the 12th largest U.S. bank as of the third quarter, with $471.4 billion in total assets and $346 billion in deposits, according to S&P Global. Illinois-based Discover was the 33rd biggest, with $143.4 billion in assets and $104 billion in deposits.
Get more business news by signing up for our Economy Now newsletter.
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