Capital One stockholders approve acquisition deal with Discover

Capital One Financial Corporation and Discover Financial Services have announced that their stockholders have approved Capital One's acquisition of Discover. The approval was given at each company's Special Meeting of Stockholders.

At the Capital One Special Meeting, more than 99.8% of the shares voted in favor of the transaction, representing 85.1% of the total outstanding shares as of December 27, 2024. Similarly, at Discover's meeting, over 99.3% of shares were voted in favor, accounting for approximately 81.6% of outstanding shares on the same date.

This approval is a significant step towards merging Capital One and Discover, both companies known for delivering solutions to consumers and businesses.

The transaction is expected to close in early 2025, pending approvals from the Federal Reserve System and the Office of the Comptroller of the Currency, along with other customary conditions. The Delaware State Bank Commissioner had already approved the acquisition on December 18, 2024.

Capital One is a financial holding company with $362.7 billion in deposits and $490.1 billion in total assets as of December 31, 2024. It operates primarily in New York, Louisiana, Texas, Maryland, Virginia, and Washington D.C., trading under "COF" on NYSE.

Discover Financial Services is a prominent digital banking and payment services company since its inception in 1986. It offers various financial products including credit cards and loans through its network.

Both companies have highlighted potential risks associated with forward-looking statements regarding this transaction but remain optimistic about future outcomes following completion.

Further details about this acquisition can be found at www.capitalonediscover.com.