US lender Capital One is nearing a deal to buy rival Discover Financial, according to a person familiar with the matter, in a tie-up that would unite two of America’s largest credit card companies.
A deal between Capital One and Discover, which has a market value of almost $28bn, could be announced as early as Tuesday, the person said, cautioning that talks might still collapse.
Capital One and Discover did not immediately respond to requests for comment. News of the talks was first reported by Bloomberg earlier on Monday.
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