Capital One to Acquire Brex for $5.15 Billion
Simpson Thacher is representing Brex Inc. in connection with its agreement to be acquired by Capital One Financial Corporation in a stock and cash transaction valued at $5.15 billion. The transaction is expected to close in the middle of calendar year 2026, subject to the satisfaction of customary closing conditions. This acquisition is the largest high growth fintech acquisition ever by a bank.
Brex offers finance solutions that make it easy for businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend.
The Simpson Thacher team includes Ravi Purushotham, Spencer Sloan and Lee Meyerson (FIG M&A) and David Blass and Meredith Abrams (FINRA).