Capital one officiously Acquires Discover in $ 35 Billion Deal – ryan

Capital One Financial Corporation Has Completed Its Acquisition of Discover Financial Services.

Richard D. Fairbank, Capital One’s Founder and Ceo, Said in a Press Release on Sunday that the Deal “Brings Together Two Innovative, Mission-Drive Companies.”

“Through the Efforms of Thouusands of Associates Across Capital One and Discover, we are well-pointed to Continue to Change Banking for Good for Millions of Customers,” He Said.

The Companies First Announched The Acquisition, An All-Stock Transaction Valuded at $ 35.3 Billion, In February 2024.

At that time, fairbank said the acquisition was a “singular opportunity to bring together two successophul companies with complementary capabilities and franchisees, and to build a payments network with the departs networks and payments networks and payments networks Companies. ”

Capital One Reported A $ 1.4 Billion Net Income During Its First-Quarter Earnings in April. Discover Reported a net income of $ 1.1 Billion that Same Month.

Representatives for Discover Financial Services Didn’t Respond to A Request for Comment. For now, The Companies have said nothing will Change for Discover Customers.

Correction: May 19, 2025 – An Earlier Version of This Story Misstained One Capital One and Discover First Announched the Deal. It was february 2024, not february of this year. It ALSO MISSTEDED the size of the deal. It was valued at $ 35.3 billion, not $ 35.5 billion.