Capital One gains after Discover deal approved by US bank regulators

ReutersApr 21, 2025 1:50 PM

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Capital One COF.N shares rise 2.1% to $166 after U.S. banking regulators approve co's $35.3 bln purchase of Discover Financial Services DFS.N

DFS shares up 4% in early trading

Combined entity will become eighth largest bank covered by government deposit insurance, Fed said. Combined assets of ~$637.8 bln will make up 2.2% of nation's insured deposits

Deal expected to close on May 18, companies said

YTD, COF down 8.7% and DFS down 7.9%

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