Discover Fincl Gets Antitrust OK To Buy Diners Club
By Daniel at 13 May, 2008, 4:37 pm
DOW JONES NEWSWIRES
Discover Financial Services (DFS) received clearance from the Federal Trade
Commission to acquire Diners Club International from Citigroup Inc.(C) for $165
million.
Federal regulators granted early termination Monday of the waiting period
required under the Hart-Scott-Rodino antitrust law, the FTC disclosed.
In the deal, Discover will acquire the international network, which it will
integrate with its own business to allow Discover Network cardholders to use
their cards at merchants that accept Diners Club.
It also means Diners Club cardholders will be able to use their cards on the
Discover Network in North America.
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