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Capital One Financial Corp. to Acquire HSBC's Domestic Credit Card Business for Premium of Approximately $2.6 Billion
Capital One Financial Corp. announced a definitive agreement under which Capital One will acquire HSBC's domestic credit card business, including its approximately $30 billion credit card portfolio, for an 8.75% premium to par value of all receivables. As of June 30, 2011, the premium would have totaled $2.59 billion. The acquisition includes ongoing private label and co-branded partnerships as well as infrastructure and capabilities that significantly enhance Capital One's partnership platform for future growth. The company expects to complete the acquisition in the second quarter of 2012.
Latest Developments for Capital One Financial Corp
- Capital One Financial Corp Announces Dividend Increase
- Capital One Financial Corp Reaffirms FY 2013 Revenue Guidance-Conference Call
- Capital One Financial Corp Receives No Objection From the Federal Reserve to Raise Common Stock Dividend
- Capital One Financial Corp Issues FY 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
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