Capital One, Discover push merger deadline to mid-May

Capital One Financial in McLean, Va., and Discover Financial Services have pushed the deadline for their merger back as they wait for regulatory approvals.

Capital One agreed a year ago to buy Discover for $35.3 billion in a deal that was expected to close in early 2025. The companies disclosed in a regulatory filing that they agreed to move the deadline to complete the deal to May 19 since “conditions related to the requisite regulatory approvals” have not “been satisfied.”

Shareholders are scheduled to vote on the deal during Feb. 18 meetings.

The original merger agreement included a Feb. 19 deadline.