Capital One buys Discover Financial for 35$ billion

[Burned Verses]

Capital One to acquire Discover Financial Services in $35.3 billion all-stock deal

The merger of the two companies, which are among the largest credit card issuers in the U.S., would expand Capital One's credit card offerings and its deposit base.

www.cnbc.com

Capital One Financial is set to acquire Discover Financial Services in a $35.3 billion all-stock deal.

Under the agreement, Discover shareholders would receive 1.0192 Capital One shares for each Discover share or about a 26% premium from Discover's Friday closing price of $110.49. The companies said they expect the deal to close in late 2024 or early 2025, after which Capital One shareholders would hold 60% and Discover shareholders would own 40% of the combined company.


The merger of the two companies, which are among the largest credit card issuers in the U.S., would expand Capital One's credit card offerings and its deposit base. The company bought digital concierge service Velocity Black, a premium credit card and luxury market platform, in June of last year.

 

[east]

cap one can set their own interchange rates like amex now

 

[Remote]

Nice.

So I guess we're basically down to Mastercard, Visa, Amex and Capital One.

I'm sure this won't be bad for consumers at all.

 

[Makavalli]

Nice.

So I guess we're basically down to Mastercard, Visa, Amex and Capital One.

I'm sure this won't be bad for consumers at all.

Well apple got into the credit game too with goldman sachs

 

[Arizax2]

Well apple got into the credit game too with goldman sachs

Thought I read they were going to get dropped?

 

[Jimmy from Linkedin]

Well apple got into the credit game too with goldman sachs

which was an abject failure

https://www.wsj.com/finance/banking/apple-pulls-plug-on-goldman-credit-card-partnership-ca1dfb45

 

[Scustin Bieburr]

I'm guessing the FTC is just 3 people at this point

 

[Prolific]

I don't see how this would benefit consumers. Hopefully they block this shyt!

 

[sayyestothis]

This is why folks need to have ownership...these all publically traded companies. Get a piece brehhs

 

[Dem313wayz]

Damn my sister and my cousins works for capital 1. They probably made a grip of money in their stock

 

[Collateral]

Capital One gang

 

[TRUEST]

That’s what’s up. I’m making moves to sell the coli for a lil under 2 million dollars. Bout to take y’all b1tch nikkas mainstream.

 

[UncleTomFord15]

Just motivated me to open an LLC

 

[KnickstapeCity]

That’s what’s up. I’m making moves to sell the coli for a lil under 2 million dollars. Bout to take y’all b1tch nikkas mainstream.

 

[AtomicUse]

This is why folks need to have ownership...these all publically traded companies. Get a piece brehhs

Yeah, the average joes 50 shares really making a dent breh.