Capital One Acquisition of Discover Clears Regulatory Hurdles

MT Newswires Live

04/21

Capital One Financial (COF) and Discover Financial Services (DFS) said Friday that the Federal Reserve System's board of governors and the Office of the Comptroller of the Currency have approved Capital One's planned acquisition of Discover.

The companies said all required regulatory approvals have been received, and the transaction is expected to close on May 18.

The latest approvals follow the December OK of the deal by the Delaware State Bank Commissioner and the February support of the deal by 99% of each company's shareholders.

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