MoneyGram soars on $1.8 bln deal from private equity firm Madison Dearborn

MoneyGram International

15/02/2022 13:56

** Shares of payments firm  MGI.O  surge 18.7% at $10.62
premarket; on course to open at its highest since July 2021
    ** Co on Tuesday said private equity firm Madison Dearborn
Partners will acquire money transfer platform in deal valued at
$1.8 bln  urn:newsml:reuters.com:*:nL4N2UQ35M
    ** Terms include 30-day "go-shop" period expiring on March
16, during which MoneyGram would be allowed to seek alternate
bids
    ** Madison will acquire MoneyGram for $11 per share
    ** Deal expected to close in Q4 2022 
    ** Up to last close, stock had risen 13.43% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))