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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, ...

Two of the leading credit card companies are joining forces, and it looks like a solid match.

 Under the terms of the agreement, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, representing a premium of 26.6% based on Discover's closing price of $110.49...

A megadeal in the banking sector could threaten the status quo in payment processing.