Bloomberg: "Capital One Financial Corp. is exploring a potential acquisition of credit-card lender Discover Financial Services that would rank as one of the largest deals globally so far this year, people with knowledge of the matter said."
"McLean, Virginia-based Capital One is working with advisers and has been holding talks with Discover about a deal, the people said. Shares of Discover have fallen about 2% this year, valuing the Riverwoods, Illinois-based company at $27.6 billion, while Capital One has a market capitalization of about $52.2 billion."
Points Wire Note:
This would also give Capital One access to Discover's processing network which is a smaller competitor to Visa and Mastercard. If this acquisition is approved by regulators, Capital One would have its own in-house processing network just like American Express.
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