Capital One Receives Final Approval to Acquire Discover Financial Services

By Bobby Samwell • Sunday, April 20 15:12 • Permanent Link

Capital One Financial Corporation (NYSE: COF) and Discover Financial Services (NYSE: DFS) have received final regulatory approvals for Capital One's proposed acquisition of Discover. The board of governors of the Federal Reserve System and the Office of the Comptroller of the Currency have approved the transaction.

The acquisition, expected to close on May 18, 2025, will not immediately affect customer accounts and relationships. However, upon closing, Capital One will begin implementing a historic, five-year Community Benefits Plan (CBP), mobilizing over $265 billion in lending, investment, and services to advance economic opportunity and financial well-being across America.

The combination of the two companies is anticipated to increase competition in payment networks, offer a wider range of products to customers, and increase resources devoted to innovation and security.

Further information on Capital One's agreement to acquire Discover Financial Services can be found at www.capitalonediscover.com. Following these announcements, the company's shares moved 2.1%, and are now trading at a price of $159.63. Check out the company's full 8-K submission here.

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