Close the acquisition of Discover Financial Services by Capital One
Delivered after the deadline (48 days after the deadline)
AI-assessed · human review in progress Found and assessed by AI from the cited sources. Shown with its evidence; it is not counted in any Kept Score until confirmed.
- Announced
- 20 Feb 2024
- Due
- 31 Mar 2025
- Delivered
- 18 May 2025
- Deadline
- Met
- Late
- Not met
- Today
What the company said
“The transaction is expected to close in late 2024 or early 2025, subject to satisfaction of customary closing conditions, including regulatory approvals and approval by the shareholders of each company.”
What we found
Evidence strength A What the grades mean
Approvals came in April 2025 and closing was expected May 18, 2025, after the March 31 deadline. A later filing shows Discover preferred stock converted at the Transaction, implying the deal closed.
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A Capital One Financial Corp. 8-K filed 2025-04-18
“All required regulatory approvals to complete the transaction have now been received, and the transaction is expected to close on May 18, 2025, subject to the satisfaction of customary closing conditions.” ✓ confirmed on the page
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A Capital One Financial Corp. 10-Q filed 2025-05-07
“The closing of the Transaction is expected to occur on May 18, 2025 subject to the satisfaction or waiver of the remaining closing conditions set forth in the Merger Agreement.” ✓ confirmed on the page
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A Capital One Financial Corp. 10-Q filed 2025-07-31
“Shares of Discover's Series C and Series D preferred stock that were outstanding immediately before the Transaction were converted at the time of the Transaction into shares of Capital One’s newly issued Series O and Series P preferred stock, respectively.” ✓ confirmed on the page
Market reaction: the shares moved -1.5% against the S&P 500 over the three sessions around the disclosure (30 Jul 2025 to 4 Aug 2025). What this measures
Checked 10 Oct 2026.
Commitment lineage
Every time the company restated this commitment. The original is never changed, and the outcome is always measured against version 1.
- Deadline drift +91 days
- 2 versions
-
Version 1 · original · stated 20 Feb 2024
Deadline 31 Mar 2025 (“in late 2024 or early 2025”) · wording expected
-
Version 2 · stated 21 Jan 2025
Deadline 30 Jun 2025 (“in early 2025”)
“We remain well positioned to complete the acquisition in early 2025, subject to regulatory and shareholder approvals.”
Commitment DNA
The structured record of this commitment. Fields the company did not state are left blank rather than guessed.
- Event type
- Acquisition close
- Indicative materiality
- High rules
- Action
- Close
- Deliverable
- Acquisition of Discover Financial Services
- Language
- Expected (“expects”, “plans”)
- In the company’s control
- Low
- Specificity
- Medium
- Conditional
- Yes: subject to satisfaction of customary closing conditions; subject to regulatory approvals; subject to approval by the shareholders of each company
- Depends on
- Regulatory, Shareholder, Counterparty, Government
How this entry was checked
- Commitment recordedThe company's words were matched word for word against the filing.
- First checkAn AI model, Claude (Anthropic), read the company's later filings and recorded the outcome with a quoted passage.
- Second check: agreesA different AI model, Gemini (Google), re-read the evidence without being told the outcome and reached the same answer.
Not yet confirmed. Shown on the record, but it will not count in any score until it is confirmed. How verification works
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Report an error in this entry Reference: KI-C-2024-COF-005775 · Corrections policy