MoneyGram rises as stockholders approve buyout deal

MoneyGram International

23/05/2022 17:55

** U.S. remittance services provider's shares  MGI.O  rise
4.5% to $9.8 after co's stockholders approve take-private deal
    ** Stock set for largest one-day pct gain since MGI struck
the $1.8 bln deal with private equity firm Madison Dearborn
Partners in mid-February  urn:newsml:reuters.com:*:nL4N2UQ3Q6
    ** MGI says more than 99% votes were cast in favor of the
deal and co remains on track to complete merger in Q4 2022 
    ** Laden with debt and a hot acquisition target in a
competitive market environment, MGI was sued by regulators in
April for unfair remittance transfers  urn:newsml:reuters.com:*:nL2N2WJ1GV
    ** YTD, shares up ~24% vs a 26.3% slide in the Nasdaq
composite index  .IXIC  

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))