MCLEAN (dpa-AFX) – Capital One Financial Corp. (COF), a bank holding company, announced Thursday that it has received approval from the Delaware State Banking Commissioner’s Office to complete its previously announced acquisition of Discover Financial Services and its subsidiary, Discover Bank.

The buyer expects the transaction to be completed in early 2025.

Capital had announced on February 19 that it had agreed to acquire Discover Financial in an all-stock transaction valued at $35.3 billion. This was followed by the July announcement of a five-year, $265 billion community benefits plan related to the acquisition.

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