Private equity firm Madison Dearborn to buy MoneyGram in $1.8 bln deal (updated)

MoneyGram International

15/02/2022 13:17

(Adds per share purchase price, other details)
    Feb 15 (Reuters) - Private equity firm Madison Dearborn
Partners will acquire money transfer platform MoneyGram
International Inc  MGI.O  in a deal valued at $1.8 billion, the
companies said on Tuesday.
    Funds affiliated with Madison will acquire MoneyGram for $11
per share, the companies said, representing a premium of 50% to
the stock's closing price on Dec. 14 before media reports on the
deal.
    The agreement also includes a 30-day "go-shop" period
expiring on March 16, during which MoneyGram would be allowed to
seek alternate bids.
    The deal talks were exclusively reported by Reuters in
December.  urn:newsml:reuters.com:*:nL1N2T039K

 (Reporting by Niket Nishant in Bengaluru; Editing by
Ramakrishnan M.)
 ((Niket.Nishant@thomsonreuters.com;))