Capital One Financial Corporation (COF) Completes $35.3B Acquisition of Discover

Capital One Financial Corporation (NYSE:COF) has announced that it has completed the acquisition of Discover Financial Services for $35.3 billion.

The company entered into a definitive agreement to acquire Discover on February 19, 2024, which received approval from the Board of Governors of the Federal Reserve System in April this year. Stockholders of both Capital One Financial Corporation (NYSE:COF) and Discover voted in favor of the deal on February 18, 2025.

A smiling face of a customer as they make a deposit at this company's branch.

Capital One Financial Corporation (NYSE:COF) has expanded its Board of Directors from 12 to 15 members, with three former members of Discover's Board of Directors appointed to serve on COF's Board of Directors.

The company has also announced that all customer accounts and banking relationships remain unchanged at this point. With the acquisition, Capital One Financial Corporation (NYSE:COF) has become the sixth-largest bank in the U.S. by asset size.

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