Capital One to buy ING Direct for $9 billion in cash and stock

SAN FRANCISCO (MarketWatch)
Capital One Financial Corp. said late Thursday it agreed to acquire ING Direct for $9 billion in cash and stock.
Under the deal, Capital One will pay $6.2 billion in cash and about 55.9 million shares, valued at $2.8 billion given a share price of $50.07.
Capital One plans to finance the cash portion of the deal through a $2 billion public-equity raise and $3.7 billion in debt offerings before the transaction's close, expected in late 2011 or early 2012.
The deal must get approval from U.S. and Dutch regulators.