Capital One Plans to Buy Discover in All-Stock Deal

Feb 20, 2024

Capital One Financial is planning to buy Discover Financial Services in a deal that would join two of the nation’s largest credit-card companies, The Wall Street Journal reported on Monday. For Discover, an acquisition would cap off several tumultuous months touched off by a disappointing earnings report and then followed by a credit-card classification error and a leadership departure. Capital One would maintain the Discover brand within a combined company—if regulators approve the deal, the people familiar with the matter said.

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