Capital One is acquiring Discover Financial Services. The deal, which is set to close in late 2024 or early 2025, is an all-stock transaction worth more than $35 billion. The acquisition will give Capital One a market value of just over $52 billion.

If the deal is completed, Capital One shareholders will own 60 percent of the combined company, with Discover shareholders owning the remaining 40 percent. Shareholders of Discover will receive just over one share of Capital One for every share they own.

Source: Capital One to buy Discover – What the $35 billion deal means for credit card industry – TheStreet