Capital One Financial Corporation × Discover Financial Services
Capital One announced a definitive agreement to acquire Discover Financial Services in an all-stock deal valued at $35.3 billion. [56, 75] Under the terms, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, a 26.6% premium over the closing price on February 16, 2024. [67] The deal combines two of the largest US credit card companies and gives Capital One ownership of the Discover payments network, which includes Discover, PULSE, and Diners Club International. [62]
The asset
The acquisition of Discover Financial Services in an all-stock transaction, combining its credit card business and its global payments network with Capital One's operations. [62, 75]
- 70M merchant acceptance points
The record
- Seller status
- Going concern
- Sector
- Credit cards & payments network
- Modalities
- transaction data, credit data, payment network data
- Jurisdiction
- US
What it means if you hold data
This acquisition creates the largest U.S. credit card issuer by loan volume and positions Capital One to build a payments network that can compete more directly with giants Visa and Mastercard. [62, 75] The vertical integration of a major card issuer with a global payments network is a significant strategic shift in the financial services and payments industry. [62]