Capital One gains after Discover deal approved by US bank regulators

Discover Financial Services

21/04/2025 14:50

Updates

** 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%

 (Reporting by Twesha Dikshit)

 ((Twesha.Dikshit@thomsonreuters.com))