Capital One’s (COF) proposed acquisition of Discover (DFS) is being investigated by New York Attorney General Letitia James, Erik Larson of Bloomberg reports. James, who asked a state court for permission to issue subpoenas to Capital One as part of an ongoing antitrust probe, says the deal would have “significant impact” on consumers in the state. New York would be particularly impacted by the proposed deal because Capital One and Discover have over $9.5B and $6.5B in credit card loans in the state, respectively, James told the court, according to Bloomberg. Shares of Capital One and Discover moved lower following the report.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on COF:
- Capital One, Discover move lower after Bloomberg report of NY AG probe
- New York AG probing Capital One purchase of Discover, Bloomberg says
- Capital One Financial Corp. (COF) Q3 Earnings Cheat Sheet
- Discover price target raised to $161 from $148 at RBC Capital
- Here’s what Wall St. experts are saying about these banks ahead of earnings
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
