MCLEAN (dpa-AFX) - Capital One Financial Corp. (COF), a bank holding company, announced on Thursday that it has received approval from the office of the Delaware State Bank Commissioner to complete its previously announced acquisition of Discover Financial Services and its subsidiary, Discover Bank.
The acquirer expects that the transaction will close in early 2025.
Capital had announced on February 19, that it had agreed to acquire Discover Financial in an all-stock transaction valued at $35.3 billion. This was followed by its July announcement of a five-year, $265 billion community benefits plan in connection with the acquisition.
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