Capital One announced its acquisition of Discover Financial Services in an all-stock deal valued at $35.3 billion, marking the consolidation of two prominent credit card companies in the United States. Capital One, boasting assets totaling $479 billion, stands as one of the nation’s largest banks, issuing credit cards through Visa and Mastercard networks.
With the addition of Discover, Capital One gains access to a vast credit card network comprising 305 million cardholders, supplementing its existing customer base of over 100 million. Among the country’s major networks—American Express, Mastercard, Visa, and Discover—the latter holds a smaller share of cardholders compared to its competitors.
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