Capital One is buying Discover

Wow. This is big ?? ?? ?? and breaking. Capital One plans to go after Discover Financial Services spending a whopping $35 billion on the deal. If approved this could shake things up in the ???? payments and cards industry. Discover Financial, among other busnesses, has its own payment network making CapitalOne a competitor to Mastercard and Visa. Will this have a significant impact on the competitive landscape of the industry? Why spend so much to go after US payment market these days if they could have 10 neobanks for thay money ?? ? #CapitalOne #DiscoverFinancialServices #MergersAndAcquisitions #PaymentsIndustry #CardsIndustry

Capital One Financial Corp. announced its plans to buy?Discover Financial Services?in a $35 billion all-stock deal, the largest so far this year. 2023 was the slowest year for M&A in a decade: Buyers and sellers grappled with expensive credit, uncertainty from investors and a weak economy. The Capital One deal surpasses Synopsys Inc.'s $34 billion acquisition of software company Ansys Inc. announced in January, and is expected to close in late 2024 or early 2025 and is subject to shareholder and regulatory approvals. Wachtell, Lipton, Rosen & Katz served as legal adviser to?Capital One and Sullivan & Cromwell served as legal adviser to Discover. Story below: https://lnkd.in/gZPXJ3wa

For anyone keeping score today, here's how major financial services stocks are faring after news that Capital One will buy Discover Financial Services for $35.3 billion: ?? Amex ~ down 0.96% ?? Visa ~ down 1.74% ?? Mastercard ~ down 3.27% ?? Capital One ~ down 4.90% ?? Discover ~ up 12.38% Our story >>

I'm currently seeking views on Capital One's $35 billion acquisition of Discover... - What are the pros and cons of the deal? - How will it affect the wider market among issuers and networks? - What do you make of the $35 billion price tag? - Will regulators allow it? All views are welcome - the stronger, the better ?? https://lnkd.in/ew_XuEHf

Breaking M&A news over on The Wall Street Journal with AnnaMaria Andriotis: Capital One?plans to buy Discover Financial Services?in an all-stock deal that would marry two of the largest credit-card companies in the U.S.?It follows a tumultuous period for Discover that has included increased regulatory scrutiny and a change in leadership. #mergersandacquisitions #bankingindustry #businessnews

This is incredibly interesting news that begs the question of what the ultimate end game includes... Conversion of all Cap One cards to Discover rails? Further expansion into merchant processing/acquiring with beneficial pricing for Cap One Merchant Services clients?

This is pretty big news with Capital One buying Discover Financial Services in something that is expected to exceed Discover Financial Services $28B market capitalization today. This will likely have an impact on Visa, Mastercard given Capital One's position as one of the largest issuers of #chargecards under their banners. What do you think? #management #fintech #capitalmarkets #creditcards https://lnkd.in/gc9ZEm9G

Here's why Capital One buying Discover is huge ?? Always good to watch any consolidation in financial services. Still unconfirmed, but the acquisition would create a behemoth. The unified entity would become the: ?? 1st in terms of U.S. credit card market share ?? 3rd largest credit card company in the U.S. in terms of total transaction volume ?? 3rd largest in terms of number of cards in circulation Discover would also expand Capital One's offerings. Giving it a credit card network - putting it in competition with Visa and Mastercard. Interesting times. Let's wait and see on the final details. #capitalone #discover #finance #banking #news

Exciting news! Capital One apparently recognizes that Discover Financial Services is a lot more than their large credit card portfolio. Discover's proprietary networks are undervalued. The fact that Discover's merchant acceptance is at parity with Visa and Mastercard in the USA seems to get lost. Also, PULSE, a Discover company network is strong and Diner's Club is a gem of brand. The potential for innovation is enormous as tech-savvy Capital One is uniquely positioned to leverage Discover's powerful networks,tech and brand assets. Look forward to learning more.