COF Stock Tanks 5.9% Post Discover Merger: A Good Buying Opportunity?
Shares of Capital One Financial Corporation (COF) have lost 5.9% since the completion of the acquisition of Discover Financial Services on May 18. The $35-billion deal reshapes the landscape of the credit card industry, creating a behemoth (in terms of loan volume).Under the terms of the agreement, Discover Financial shareholders received 1.0192 Capital One shares for each Discover Financial share. Now, the company is well-positioned to capture a bigger share of spending on cards and compete with well-known ...