2 of the world's largest credit card companies just merged [View all]
Source: Business Insider
May 18, 2025, 4:38 PM ET
Capital One Financial Corporation has completed its acquisition of Discover Financial Services.
Richard D. Fairbank, Capital One's founder and CEO, said the deal "brings together two innovative, mission-driven companies" in a press release on Sunday.
"Through the efforts of thousands of associates across Capital One and Discover, we are well-positioned to continue our quest to change banking for good for millions of customers," he said. The companies first announced the acquisition, an all-stock transaction valued at $35.5 billion, in February.
At that time, Fairbank said the acquisition was a "singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies."
Read more: https://www.businessinsider.com/capital-one-acquires-discover-credit-card-companies-2025-5
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