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Capital One Stock in Focus After $35B Deal To Buy Discover Financial—Key Levels to Watch
COFCapital One(COF) Investopedia·2024-02-20 03:35

Key TakeawaysCapital One shares will come into focus Tuesday after the credit services giant announced a 35.3billionallstockacquisitionofsmallerrivalDiscoverFinancialServices.Underthetermsofthedeal,Discovershareholderswillreceive1.0192CapitalOnesharesforeachDiscovershare,representinga26.635.3 billion all-stock acquisition of smaller rival Discover Financial Services.Under the terms of the deal, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, representing a 26.6% premium to Discover's Friday 110.49 closing price.Capital One expects the merger to generate expense and network synergies of 1.5billionand1.5 billion and 1.2 billion, respectively, by 2027.COF shares ...