JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed on a bid, the Financial Times reports, citing unidentified people familiar with the matter.
- JPMorgan started actively exploring a deal in mid-2021, but abandoned the effort in mid-2022 when it failed to convince Discover of its merits
- JPMorgan and Discover declined to comment: FT
- NOTE:
Capital One Executive Says Investors Upbeat About Discover Deal Capital One Prepared to Pay More Than Expected to Fix Discover
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