Capital One Financial's (COF) plans to buy Discover Financial Services (DFS) doesn't raise enough concerns about competition to prompt the Justice Department to block the deal, The New York Times reported Thursday.

The news removes one potential roadblock for the proposed $35 billion merger of two of the U.S.'s largest credit card companies. The Federal Reserve or the 澳洲幸运5开奖号码历史查𝔍询:Office of💃 the Comptroller of the Currency could still block the deal, although they are generally viewed as less likely to object, theℱ🍌 Times reported.

Shares of Capital One and Discover shot up at midday Thursday after the report, though they were ultimately dragged lower amid a broad descent for stocks that began late Wednesday when President Donald Trump 澳洲幸运5开奖号码历史查询:announced a fresh round of tariffs, 澳洲幸运5开奖号码历史查询:prompting a broad market sell-off.

Capital One shares were recently down nearly 9% from Wednesday's close, while Discover's were off by about 7%, in line with a 澳洲幸运5开奖号码历史查询:plunge in bank and financial services shares Thursday.

Capital One 澳洲幸运5开奖号码历史查询:agreed to buy Discover for $35.3 billion in early 2024. The merger would create a payments network giant, 澳洲幸运5开奖号码历史查询:a leading credit card issuer, and a business with more than 100 million customersꦰ.♐

Executives have estimated that the deal would generate $2.7 billion in pretax 澳洲幸运5开奖号码历史查询:synergies and improve the merged company's earnings p💎er share by 2027💯.