Two of the US’s largest credit card companies are set to merge in a deal to create a giant financial powerhouse worth around US$35bn. Capital One has offered to buy Discover Financial Services (NYSE:DFS) in an all-share transaction to form the sixth-largest US bank by assets and a rival to JPMorgan Chase and Citigroup. Combined, the company will also be number one in the highly concentrated US credit card industry, Visa and Mastercard dominate the credit card landscape worldwide but getting to a scale where ...