Date:	--/--/-- --:--:--
Event Id:	E55CS3T6N
Action Type:	MERGER
Action Status:	ANNOUNCED
Acquirer Symbol:
Target Symbol:	DFS
Updated:	--/--/-- --:--:--
Purchase Price Per Share:
Price Per Share Currency:
News References:	https://www.businesswire.com/news/home/20241217254919/en/

Action Notes

Capital One Financial Corporation and Discover Financial Services today announced that they have entered into a definitive agreement under which Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion. Under the terms of the agreement, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, representing a premium of 26.6% based on Discover's closing price of $110.49 on February 16, 2024. At close, Capital One shareholders will own approximately 60% and Discover shareholders will own approximately 40% of the combined company. The transaction is expected to close in late 2024 or early 2025, subject to satisfaction of customary closing conditions, including regulatory approvals and approval by the shareholders of each company. Both companies will hold special shareholder meetings on 02/18 to vote on the transaction.