Capital One's proposed merger with the US credit card specialist Discover has reshuffled the deck in a fast-growing sector in the United States, where cash is gradually disappearing from the landscape.
The all-stock deal is worth around $35.3 billion, and is expected to close in late 2024 or early 2025. The deal, which will be subject to antitrust scrutiny, values Discover's shares at a 27 percent premium, and would create a US banking behemoth.
