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Capital One Financial (NYSE:COF) is evaluating a possible purchase of Discover Financial Service (NYSE:DFS).
Capital One (COF) has been working with advisers to consider a potential acquisition of Discover (DFS), according to a Bloomberg report on Monday, which cited people familiar with the matter.
Deliberations on a potential transaction are ongoing and there’s no certainty they will lead to a purchase, according to the report.
Discover Financial (DFS) has a market cap of about $28 billion, while Capital One (COF) is valued at $52 billion. Shares of Discover gained 15% last year, while Capital One jumped over 40%.
Capital One (COF) and Discover (DFS) didn’t immediately respond to Bloomberg requests for comment.
Discover (DFS) is set to present at the UBS Financial Services Conference on Feb. 26.
