Western Union makes offer for small Australian rival

• Western Union (NYSE:WU) has made an informal offer to buy Australian online rival OzForex Group (OTCPK:OZFRY) for A$888M ($632M), aiming to boost its access to one of the world's largest cash transfer markets.
• The proposal comes two days after the WU said it would offer money transfer service on WeChat, the messaging app owned by Tencent Holdings.