We are investigating the fairness of the proposed merger of Discover Financial Services (NYSE: DFS) (“Discover”) with Capital One (“Capital One”) in an all-stock transaction. Under the terms of the deal, each Discover shareholder will receive 1.0192 shares of Capital One, which values Discover at nearly $140.00 per share based on Capital One’s closing price on February 16, 2024.
If you remain a Discover shareholder and have concerns about the fairness of the deal price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On February 19, 2024, Discover announced that it had agreed to merge with Capital One in an all-stock transaction. Under the terms of the deal, each Discover shareholder will receive 1.0192 shares of Capital One, which values Discover at nearly $140.00 per share based on Capital One’s closing price on February 16, 2024.
“We are investigating whether the Discover Board of Directors acted in the best interests of Discover shareholders in approving the merger,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the exchange ratio agreed upon is fair to Discover shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, several Discover shareholders publishing on SeekingAlpha have expressed disappointment with the exchange ratio.