Merger-bound Capital One, Discover outpace rivals after Trump recaptures White House

Discover Financial Services

06/11/2024 12:21

** Shares of payments firms Capital One  COF.N  and Discover
Financial Services  DFS.N  rise 11.5% and 10% premarket,
respectively, after Republican Donald Trump elected U.S.
president
    ** Companies are awaiting approval for their $35.3 bln
merger deal, which was unveiled in February
    ** Analysts expect a looser antitrust environment under
Trump, who is expected to overhaul the country's financial
regulators, many of which have unveiled stringent rules for
banks and M&As in the last few years
    ** Last month, New York Attorney General Letitia James said
she was investigating if the Capital One-Discover deal violates
the state's antitrust law
    ** Rivals American Express  AXP.N , Visa  V.N  and
Mastercard  MA.N  gain 4.6%, 3.6% and 2.4%, respectively

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com))