Capital One Financial Corporation (NYSE: COF) and Discover Financial Services (NYSE: DFS) today announced that each company’s respective stockholders have voted to approve Capital One’s previously announced acquisition of Discover at each company’s Special Meeting of Stockholders (the “Special Meeting”).
Special Meeting Stockholder Vote Results
Capital One: More than 99.8% of the Capital One shares voted at the Capital One Special Meeting were voted in favor of the transaction, representing 85.1% of the total number of outstanding shares of Capital One common stock as of December 27, 2024, the record date for Capital One’s Special Meeting.
Discover: More than 99.3% of the Discover shares voted at the Discover Special Meeting were voted in favor of the transaction, representing approximately 81.6% of the total number of outstanding shares of Discover common stock as of December 27, 2024, the record date for Discover’s Special Meeting.
Stockholder approval marks an important milestone in the process to combine Capital One and Discover, two mission-driven companies with proven track records of delivering best-in-class solutions for consumers, small businesses, merchants and communities.
Additional Merger Agreement Conditions
Capital One anticipates that the transaction will close in early 2025, subject to approval by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, and other customary closing conditions.
As previously announced, the Delaware State Bank Commissioner approved Capital One’s proposed acquisition of Discover on December 18, 2024.
Further information on Capital One’s agreement to acquire Discover can be found at www.capitalonediscover.com.