Capital One to Acquire Discover in $35.3 Billion Deal
"A space that is already dominated by a relatively small number of megaplayers is about to get a little smaller," said Matt Schulz, chief credit analyst at LendingTree.
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"A space that is already dominated by a relatively small number of megaplayers is about to get a little smaller," said Matt Schulz, chief credit analyst at LendingTree.
Capital One announced it was acquiring a rival financial services company in a massive stock deal, according to the New York Times.
Capital One announced on Monday it was acquiring a rival financial services company in a massive stock deal as Americans continue to be plagued with credit card debt, according to the New York Times.
Capital One's $35.3 billion acquisition of Discover Financial would likely renew competition for Visa and Mastercard, which have long dominated the payment processing industry.
Capital One plans to acquire the credit card company in a deal valued at $35.3 billion