Key Takeaways
- Capital One reportedly is set to acquire Discover Financial in an all-stock deal that would bring together two major credit card providers.
- The deal, which is expected to value Discover at a premium to its current market capitalization of $27.6 billion, could be announced as soon as Tuesday, The Wall Street Journal reported.
- Capital One is expected to maintain the Discover brand and would switch at least some of the cards it issues to the Discover network.
- Discover has dealt with some turmoil in recent months. The lender has raised its bad loan provisions and also faced scrutiny from regulators for compliance and risk management issues.
Capital One Financial Corp. (COF) reportedly is set to acquire Discover Financial Services (DFS) in an all-stock deal that would bring together two of the major credit card companies in the U.S.
A deal could be announced as soon…
