Discover Financial Stock Surges 14 percent on Capital One’s Acquisition

Capital One Financial Corporation (NYSE:COF) and Discover Financial Services (NYSE: DFS) have officially announced their agreement for Capital One to acquire Discover through an all-stock deal valued at $35.3 billion. As a result, shares of Discover shares jumped more than 14% pre-market today.
This merger unites two renowned companies recognized for their strong financial performance, award-winning customer service, innovative breakthroughs, and commitment to financial inclusion.
Upon the completion of the transaction, Capital One and Discover shareholders are expected to hold about 60% and 40% stakes, respectively, in the newly formed company.

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