Capital One and Discover Stockholders Approve Merger Acquisition

Capital One Financial Corporation and Discover Financial Services announced that both companies’ stockholders have voted to approve Capital One’s acquisition of Discover at their respective Special Meetings of Stockholders. More than 99.8% of Capital One shares and over 99.3% of Discover shares voted in favor of the transaction.

The stockholder approval is a significant step in combining Capital One and Discover, two companies known for providing top-notch solutions for consumers, small businesses, merchants, and communities. The transaction is expected to close in early 2025, pending approval by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and other customary closing conditions.

The Delaware State Bank Commissioner approved Capital One’s proposed acquisition of Discover on December 18, 2024. For additional information on the agreement, visit www.capitalonediscover.com. Capital One Financial Corporation, a financial holding company, had $362.7 billion in deposits and $490.1 billion in total assets as of December 31, 2024.

Discover Financial Services, a digital banking and payment services company, is one of the largest card issuers in the United States. Both companies provided forward-looking statements regarding the benefits and expected timing of the transaction, subject to risks and uncertainties. For more information, refer to Capital One’s and Discover’s filings with the SEC.

Learn more about the acquisition here.