NEW YORK/WASHINGTON (Reuters) -Warren Buffett-backed U.S. consumer bank Capital One plans to acquire U.S. credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion to create a global payments giant, the companies said on Monday. The deal, which is expected to receive intense antitrust scrutiny, would also form the sixth-largest U.S. bank by assets and a U.S. credit card behemoth that would compete with rivals JPMorgan Chase and Citigroup. While Discover has a network that spans 200 countries and territories, it is still much smaller than rivals Visa, Mastercard and American Express.
Warren Buffett-backed consumer bank Capital One plans to acquire credit card issuer Discover Financial Services in an all-stock transaction valued at $35.3 billion to create a global payments giant, the companies said on Monday.
Capital One Financial Corp
said on Monday it will acquire Discover Financial Services
in an all-stock transaction valued at $35.3 billion. (Reporting by Maria Ponnezhath.
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