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Capital One's proposed acquisition of Discover Financial Services includes a $1.38 billion termination fee. Discover offered a $1.38 billion reverse termination fee if Capital One chooses another buyer. The $35 billion merger aims to create a major player in the credit card industry, potentially challenging other Wall Street giants. However, concerns have been raised about reduced competition and consumer choice, leading to higher costs for consumers.
Capital One and Discover are attempting to push through a $35.3 BILLION merger that would hurt consumers, workers & the economy — all because, for decades, regulators have been nothing more than a rubber stamp to Big Banks. I'm urging the Biden administration to block this deal. https://t.co/BJwpxV3uij
Capital One buying Discover would decrease competition and consumer choice—it’s a recipe for higher costs for folks in Oregon and across the country. It’s a deal that puts billionaires on Wall Street first and the American people last. https://t.co/VKPkKsjFEl
Capital One is set to buy Discover in a $35 billion deal that would bring together two of the biggest credit card firms and allow them to compete with other Wall Street behemoths. @RitikaGuptaTV explains what that could mean for consumers https://t.co/mZJYuHCyHA https://t.co/X1qszsUfM3
