Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.JPMorgan Chase CEO Jamie Dimon isn't worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover Financial gets approved."My view is, let them compete," Dimon said. "Let them try, and if we think it's unfair we'll complain about that."Dimon, speaking to CNBC's Leslie Picker from a Miami con ...

On Feb. 19, Capital One (COF 0.71%) announced it would acquire Discover Financial Services (DFS 1.37%) in an all-stock transaction valued at over $35 billion. The move could make Capital One the largest credit card issuer in the U.S. and create greater competition for Visa (V -0.05%) and Mastercard (MA 0.39%), whose stocks fell following the news announcement. Here's what it could mean for investors in those companies.Capital One could become the largest card issuer in the U.S.Capital One provides its custo ...

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 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]