Capital One is plowing forward with plans to purchase Discover Financial, but the proposed acquisition is expected to face major pushback from regulators – and whether it actually goes through could depend on who wins the presidential election. Before the ink had time to dry on the press release announcing the merger of two of America's largest credit card companies, some lawmakers and consumer groups called for regulators to quash it over antitrust concerns. Ticker Security Last Change Change % COF CAPITAL ...

Capital One's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, people with knowledge of the matter told CNBC.Capital One said late Monday it had an agreement to purchase rival credit card player Discover in an all-stock transaction valued at $35.3 billion.While Discover can't actively solicit alternative offers, it can entertain proposals from other deep-pocketed bidders b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-K ___________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-13300 ____________________________________ CAPITAL ONE FINANCIAL CORPORATI ...

Capital One Financial Corp. agreed to buy Discover Financial Services in a $35 billion all-stock ... [+] deal to create the largest US credit card company by loan volume.© 2024 Bloomberg Finance LPThis week’s announcement that Capital One COF plans to acquire Discover caused much debate about what this potential union could mean for consumers. This is a very important issue that needs to be explored carefully. I hope that these financial institutions do not rush into a marriage; instead, they need a long en ...

Key PointsCapital One proposed a $35.3 billion all-cash acquisition of Discover Financial Services, potentially reshaping the credit card industry.Discover's third-party network combined with Capital One's banking status opens up product opportunities akin to American Express.Capital One CEO plans to gradually transfer Capital One's debit cards from Mastercard's network to Discover's.5 stocks we like better than Capital One FinancialWhat’s in your wallet? In the not-so-distant future, it might be a card iss ...

In this articleDFSCOFCapital One CEO and Chairman, Richard Fairbank.Marvin Joseph| The Washington Post | Getty ImagesCapital One's recently announced $35.3 billion acquisition of Discover Financial isn't just about getting bigger — gaining "scale" in Wall Street-speak — it's a bid to protect itself against a rising tide of fintech and regulatory threats.It's a chess move by one of the savviest long-term thinkers in American finance, Capital One CEO Richard Fairbank. As a cofounder of a top 10 U.S. bank by a ...

Group 1: Acquisition Overview - Capital One announced its plan to acquire Discover Financial Services for $35.3 billion, which would be the fifth-largest deal in U.S. bank M&A history if approved [1][6] - Discover's shares surged over 12% following the announcement of the acquisition [1] Group 2: Historical Context of Major Bank M&A Deals - JPMorgan Chase's acquisition of Bank One in 2004 remains the largest U.S. bank deal at $56.88 billion [2] - Bank of America purchased FleetBoston Financial for $47.69 billion in 2004, expanding its presence in the Northeast [3] - NationsBank merged with Bank of America in a $43.09 billion deal in 1998, creating the largest commercial banking organization in the U.S. at that time [4] - The merger of Citicorp and Travelers Insurance Group in 1998 created Citigroup in a $36.03 billion deal [5] Group 3: Market Implications - Analysts suggest that Capital One's acquisition of Discover could potentially create the largest consumer credit card issuer by loans outstanding [7] - Regulatory concerns may arise due to recent events in other industries, but the competitive nature of the card market makes the combination appear reasonable [7]

Advertiser Disclosure CNET editors independently choose every product and service we cover. Though we can’t review every available financial company or offer, we strive to make comprehensive, rigorous comparisons in order to highlight the best of them. For many of these products and services, we earn a commission. The compensation we receive may impact how products and links appear on our site. ...

Key TakeawaysCapital One's $35.3 billion acquisition of Discover Financial stands to shake up the financial services industry, making the combined company a major player in credit cards.The company could displace JPMorgan Chase as the dominant credit card lender, based on current card loan data.With a boost in investment from Capital One, Discover could better take on Visa and Mastercard, which are the dominant credit card brands in the U.S.The deal, however, will face regulatory hurdles.The proposed $35.3 ...

Capital One Financial's $35.3 billion deal for Discover Financial would create new competition for payments behemoths Visa and Mastercard, potentially helping smoothen the path for regulatory approval, analysts said. The all-stock deal announced on Monday would give Capital One access to Discover's network of payments processing and settlement services, allowing it to cut its reliance on Visa and Mastercard, which have come under fire for their fees.While legal experts expect the deal - the biggest in the g ...