"Potential Impact of Capital One's Acquisition and Discover Takeover on America's Credit Card Industry"

Capital One's proposed acquisition of Discover Financial includes a $1.38 billion breakup fee if Discover chooses another buyer, but no fee if U.S. regulators block the deal. The all-stock transaction is valued at $35.3 billion, and while Discover can consider other offers, it can't actively solicit them. The deal's fate hinges on regulatory approval from the Federal Reserve, the Office of the Comptroller of the Currency, and potential antitrust concerns from the Justice Department.