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Under the agreement, Discover shareholders would receive 1.0192 Capital One shares for each Discover share or about a 26% premium from Discover’s Friday closing price of $110.49.
On February 19, Capital One announced it would acquire Discover in an all-stock transaction worth $35.3 billion. Both companies are among the largest credit card issuers in the country while ...
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On March 13, 2007, Discover Financial Services announced the Discover Motiva card, the credit card that gives cardmembers cash rewards for making six on-time monthly payments in a row. This card was the industry's first credit card to give cash rewards for good credit management.
Discover Card, which today operates is the company's most widely held proprietary general-purpose credit card and generated a majority of Credit Services' revenues and net income in 1996. Prior to its merger, Dean Witter's credit cards business accounted for 52% and 47% of the company's net income in 1995 and 1996, respectively.
Discover is the third largest credit card brand in the U.S., with 60.6 million cardholders or about 8% of cards in circulation, placing it well behind Visa (48%) and Mastercard (36%), but slightly ahead of American Express (7.5%).
Capital One Financial said it will buy Discover Financial Services for $35 billion, in a deal that would bring together two of the nation's credit card companies as well as potentially shake up ...
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