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Capital One Is Buying Discover

Capital One is buying Discover Financial in a deal that would marry two of the largest credit-card companies in the U.S. WSJ: The all-stock deal could be announced Tuesday, according to people familiar with the matter. Discover has a market value of $28 billion, and the takeover would be expected to...

Buying Discover will give Capital One, a credit-card lender with a market value of a little over $52 billion, a network that would vastly increase its power in the payments ecosystem. Though much smaller than Visa and Mastercard, Discover is one of the few competitors to those companies in the U.S. and it is one of a small number of card issuers that also has a payments network. Capital One, the ninth-largest bank in the country and a major credit-card issuer, uses Visa and Mastercard for most of its cards.

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