{"id":2180372,"date":"2024-02-19T23:26:02","date_gmt":"2024-02-20T04:26:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/capital-one-announces-35-3-billion-deal-to-acquire-discover-financial-services\/"},"modified":"2024-02-19T23:26:02","modified_gmt":"2024-02-20T04:26:02","slug":"capital-one-announces-35-3-billion-deal-to-acquire-discover-financial-services","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/capital-one-announces-35-3-billion-deal-to-acquire-discover-financial-services\/","title":{"rendered":"Capital One announces $35.3 billion deal to acquire Discover Financial Services"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcapital-one-announces-35-3-billion-deal-to-acquire-discover-financial-services%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2180372&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Capital One announced on Monday that it plans to acquire Discover Financial Services in a $35.3 billion all-stock deal.<\/p>\n<p> The two companies say they are aiming to have the deal closed by late 2024 or early 2025, subject to shareholder and regulatory approval. The acquisition would combine two of the largest credit card issuers in the country.<\/p>\n<p> The deal would give shareholders of Discover 1.0192 shares of Capital One for each share they own, for a premium of 26.6%, determined by Discover\u2019s Friday closing price of\u00a0$110.49, according to the companies. After the acquisition is completed, Capital One shareholders would own 60% of the combined company, and Discover shareholders would own 40% of the company.<\/p>\n<p> Capital One Chairman and CEO Richard Fairbank said in a statement on Monday that the merger will \u201cbring together two very successful companies with complementary capabilities and franchises.\u201d<\/p>\n<p> FILE \u2013 A branch office of Capital One Bank is pictured in New York. (AP Photo\/Mark Lennihan, File) \u201cFrom Capital One\u2019s founding days, we set out to build a payments and banking company powered by modern technology. Our acquisition of Discover is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies,\u201d Fairbank said.<\/p>\n<p> \u201cThrough this combination, we\u2019re creating a company that is exceptionally well-positioned to create significant value for consumers, small businesses, merchants, and shareholders as technology continues to transform the payments and banking marketplace,\u201d he added.<\/p>\n<p> Discover President and CEO\u00a0Michael Rhodes said in a statement on Monday that he is looking forward to a \u201cbright future\u201d under the Capital One family and is looking to provide \u201cexpanded opportunities for our loyal customers.\u201d<\/p>\n<p> CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/p>\n<p> \u201cThe transaction with Capital One brings together two strong brands with enhanced ability to accelerate growth and maximizes value for our shareholders, enabling them to participate in the tremendous upside of the combined company,\u201d Rhodes added. \u201cThis agreement underscores the strength of our business and is a testament to the hard work of Discover employees.\u201d<\/p>\n<p> Capital One uses the Visa and Mastercard networks for most of its credit cards but still plans to keep the Discover brand, according to a report from the Wall Street Journal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Capital One announced on Monday that it plans to acquire Discover Financial Services in a $35.3 billion all-stock deal. The two companies say they are aiming to have the deal closed by late 2024 or early 2025, subject to shareholder and regulatory approval. The acquisition would combine two of the largest credit card issuers in<\/p>\n","protected":false},"author":2638,"featured_media":2180373,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/AP24051049806364-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2180372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/02\/AP24051049806364-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2180372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2638"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2180372"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2180372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2180373"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2180372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2180372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2180372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}