Ant Financial’s $880M MoneyGram Acquisition Put In Question As US Rival Offers Higher Bid

Ant Financial Services Group's US$880 million deal to acquire Dallas, Texas-based U.S. money transfer company MoneyGram International Inc. was put in question today after Kansas-based American payment firm Euronet Worldwide Inc. made a higher offer to acquire the target asset.

NASDAQ-listed Euronet made a proposal yesterday to acquire all shares outstanding of MoneyGram, also listed on the NASDAQ, for US$15.20 apiece in cash, valuing the company at more than US$1 billion, in addition to the assumption of approximately US$940 million of MoneyGram's outstanding debt.

The offer, which Euronet called an "all-American deal," compares to Ant Financial's proposed US$13.25 per share price in an agreed deal announced in January.

Euronet said in a statement that its offer represents a premium of approximately 15% over that of Ant Financial, a...

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