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Capital One Announces $35B Merger with Discover; Colorado Sues over Kroger-Albertsons Merger

HeadlineFeb 20, 2024

In business news, Capital One announced it’s acquiring Discover Financial Services for $35 billion, merging two of the country’s largest credit card companies. The deal will have to pass regulatory approval as the Biden administration is seeking to tighten rules on financial mergers.

Meanwhile, Colorado is suing to block grocery chain Kroger’s $25 billion merger with Albertsons. The merger would create the largest supermarket chain in the U.S., with some 5,000 stores, giving it near-monopoly control to set prices and underpay its workers.

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