V - JPMorgan's Chase for Discover: A Tale of Missed Opportunities and Regulatory Roadblocks | Benzinga
In a year-long pursuit, JPMorgan Chase & Co (NYSE:JPM) discussed a potential deal with Discover Financial Services (NYSE:DFS) before Capital One Financial Corp (NYSE:COF) sealed the $35 billion bid for the credit card company.
The primary motivation behind JPMorgan’s interest was gaining control of Discover’s Pulse electronic payments network.
Despite actively exploring the deal from mid-2021, JPMorgan eventually abandoned its efforts in mid-2022 when it couldn’t convince Discover of its merits.
A potential JPMorgan-Discover merger faced significant regulatory challenges, considering JPMorgan’s position as the largest U.S. credit card lender, the Financial Times noted.
The Capital One deal, which recently relegated ...