MoneyGram

On Tuesday, private equity firm Madison Dearborn Partners said it would buy MoneyGram in a $1.8 billion deal, seeking to turn around the fortunes of the debt-laden money transfer platform buffeted by stiff competition, reported Reuters.  Funds affiliated with Madison will acquire MoneyGram for $11 per share, a 23% premium to the stock’s close on Monday. […]

MoneyGram, a global money transfer and payment service, has launched a new mobile app that is available in the US and 14 other countries, according to a company announcement. The app, available for iOS and Android platforms, has features that include biometric identification, location finder, transfer tracking, and exchange rates and fee estimates. MoneyGram Chairman […]

The Federal Trade Commission (FTC) announced on Thursday, November 8, that MoneyGram will pay US$125 million in penalties after having violated a six-year-old settlement tied to anti-money laundering (AML) controls. According to the FTC, the company violated the settlement struck in 2012 that stemmed from charges that the company had aided and abetted wire fraud. […]

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The plan faced a major hurdle this week as US electronic payments firm Euronet Worldwide launched a higher $1 billion bid for MoneyGram on Tuesday, arguing that its all-American deal would face less regulatory scrutiny than a lower bid by Ant. Ant Financial Services, the world’s largest financial technology company, is confident of closing a […]

US electronics payments provider Euronet Worldwide said on Tuesday it offered to buy money-transfer company MoneyGram International for $15.20 per share, trumping Ant Financial’s bid of $13.25 per share. Euronet said its offer for each MoneyGram common share and preferred stock, on an as-converted basis, valued the company at more than $1 billion, in addition […]

Money transfer service MoneyGram is being bought by a financial services giant based in China. Ant Financial, which was spinoff from Alibaba before its IPO in 2014, is paying $13.25 a share for MoneyGram, 12% above the stock’s closing price on Wednesday.  The acquisition is a drop in the bucket for Ant Financial, which has […]