Capital One to acquire Discover Financial

Capital One, a Warren Buffett-backed consumer bank and credit card issuer, announced Monday that it will acquire the credit card lender Discover Financial Services.Capital One announced that the deal will create a "global payments platform at scale, with 70 million merchant acceptance points in more than 200 countries and territories." The all-stock transaction will be at a premium of 26.6% based on Discover's closing price of $110.49 on Feb. 16, with Discover shareholders set to receive 1.0192