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March 22, 2024

Legal News

March 22, 2024

Capital One To Acquire Discover

Capital One announced its acquisition of Discover Financial Services in an all-stock deal valued at $35.3 billion, marking the consolidation of two prominent credit card companies in the United States. Capital One, boasting assets totaling $479 billion, stands as one of the nation’s largest banks, issuing credit cards through Visa and Mastercard networks.

With the addition of Discover, Capital One gains access to a vast credit card network comprising 305 million cardholders, supplementing its existing customer base of over 100 million. Among the country’s major networks—American Express, Mastercard, Visa, and Discover—the latter holds a smaller share of cardholders compared to its competitors.

At Outside Legal Counsel LLP, our attorneys have extensive experience in mergers and acquisitions. Feel free to contact us for a consultation to discuss your specific needs.

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