Capital One, Discover Stocks Climb on Merger Approval

Dow Jones

21 Apr

By Dean Seal

Shares of Capital One and Discover advanced after regulators gave the go-ahead for the banks to complete their $35 billion merger.

Capital One's stock was up 4.1% at $169.42 in premarket trading, while shares of Discover Financial Services were up 6.2% at $169.49.

McLean, Va.-based Capital One received approval from regulators to acquire Discover in a deal that greatly expands its credit-card business and gives it a card network that can compete with Visa and Mastercard.

After the tie-up, Capital One would have more than $650 billion in assets. It said it plans to keep the Discover brand on cards and the network.

The merger is conditional on the resolution of pending enforcement actions against Discover. Capital One said the deal is expected to close in May.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

April 21, 2025 06:38 ET (10:38 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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