Capital One is buying Discover in a $35.3 billion deal ...Middle East

By Elisabeth Buchwald, CNN New York (CNN) — Capital One announced it’s acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market. Under the terms of the deal announced Monday evening, Discover (DFS) shareholders will receive a little over one share of Capital One (COF) for every Discover share they own. That represents an almost 27% premium from Discover’s closing share price of $110.49 on Friday. If the deal is finalized, current Capital One shareholders will own a 60% stake in the combined company, while Discover shareholders will own the remaining 40%. Capital One said it believes the deal will clo

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Last updated : 20 February 2024 clock 03:41 AM

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Capital One is buying Discover in a $35.3 billion deal ...Middle East

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