Brocker.Org: MoneyGram soars 26% after acquiring bid from Euronet


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A store worker destinations a indication for ‘MoneyGram’ outside the house his retail outlet on Moore Road in Dublin, Ireland.

Euronet Around the world proposed an provide on Tuesday to purchase dollars transfer corporation MoneyGram Intercontinental for $15.20 for each share, sending the stock cost soaring additional than 20 %.

Shares ended up investing a little underneath $16 as of Tuesday early morning.

Euronet’s provide values the corporation at additional than $one billion, which is 15 % earlier mentioned a earlier provide that was made by a U.S.-based mostly dollars transfer corporation and Alibaba‘s Ant Monetary Products and services.

Just earlier this year, shares of MoneyGram jumped after Ant Monetary proposed its merger in a offer valued at $880 million. In that offer, shareholders of Dallas-based mostly MoneyGram ended up made available $13.25 for each share in hard cash, in accordance to a push launch.

By combining with Ant Monetary, MoneyGram would be equipped to entry 630 million additional end users throughout the world, the launch reported.

The most up-to-date Euronet proposal “provides a more quickly and a appreciably additional specified route to closing than the Ant Monetary transaction,” Euronet Main Govt Michael Brown wrote in a be aware to MoneyGram Chairman Pamela Patsley on Tuesday.

“The blend of these very complementary enterprises would create a very well-positioned international payments corporation that would benefit clients and staff in the United States and all over the world,” Tuesday’s push launch from Euronet wrote.

MoneyGram did not straight away answer to CNBC’s ask for for comment on this proposal.

Shares of Euronet traded down additional than one % on Tuesday’s news.