Capital One to Buy Discover

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Capital One to Buy Discover

The fourth-largest US credit card issuer, Capital One, has entered into a definitive agreement to buy the sixth-largest credit card issuer, Discover, for $35.30 billion in an all-stock transaction. This represents a 26.6% premium to the Discover share price. Discover shareholders will receive 1.0192 shares of Capital One for each Discover share they own. Capital One will own 60% of the new company. A $1.38-billion termination fee applies if either party pulls out of the transaction. The fee doesn’t apply if regulators or oversight agencies deny the deal. Regulatory and oversight approv...

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Nilson Report

1258

February 2024

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Capital One to Buy Discover

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