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| Mark Lennihan / Associated Press |
Capital One Financial will acquire Discover Financial Service for $35 billion in a deal that would merge two of the major credit card companies and issuers in the United States.
Discover Financial shareholders will receive Capital One shares valued at nearly $140 per share, according to a press release issued by the companies on Monday. Discover's shares closed at $110.49 on Monday.
Virginia-based Capital One was the 12th-largest bank in the country as of the third quarter, with total assets of $471.4 billion and $346 billion in deposits, according to S&P Global.
Illinois-based Discover ranked 33rd with $143.4 billion in assets and $104 billion in deposits.
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