Capital One Financial Corporation is a financial holding company that specializes in banking, auto loans, credit cards, and saving accounts. The company was founded in 1994, with its headquarters located in Virginia, USA. It is one of the largest banks in the United States, and boasts of $348.4 billion USD in customer deposits and $478.5 billion USD in overall assets as of December 2023.
Discover is a financial services brand that issues credit cards in the United States. Founded in 1985, the company boasts of 8% of cards in circulation. It is one of the largest credit card issuers in the Country with about 60.6 million cardholders as of 2023.
According to recent reports, Capital One has announced the acquisition of Discover in a 100% stock consideration deal. The report further mentions that Discover shareholders will receive 1.0192 Capital One shares for each Discover share. This acquisition is supposed to close by late 2024 or early 2025.
