MoneyGram International, Inc.NYSE
Mon, Jan. 4, 2:49 PM
- Incoming MoneyGram (MGI -3.8%) CEO Alex Holmes last week said he anticipates mergers in the remittance industry, noting 96 players in the $24B market for transferring cash from the U.S. to Mexico. "I would like them to go away ... I would like to buy them all."
- Analyst Mark Palmer expects it more likely that MGI is acquired rather than becoming an acquirer, and he sees Western Union (WU -2%) as the most likely buyer. He reminds of the positive market reaction in Western Union stock last May on rumors of a deal to buy MoneyGram.
- While a purchase of MoneyGram wouldn't help necessarily help Western Union adapt to the new realities of mobile and online, it would add customers and plenty of opportunity for cost-cutting.
May 6, 2015, 11:25 AM
- A combination of MoneyGram (MGI +28.2%) and Western Union (WU +7.2%) would give the new entity a money transfer market share of close to 20%, notes Financial Post.
- JP Morgan thinks a merger would include equity due to MoneyGram's high debt load.
- That development could cut into buybacks for Western Union and dent its credit rating.
- If a deal for MoneyGram is struck at $10 to $11, JP sees EPS accretion.
- Previously: Western Union reportedly in talks to buy MoneyGram; MGI +34.6% (May. 05 2015)
May 5, 2015, 5:28 PM
Sep. 19, 2013, 4:26 PM
- MoneyGram (MGI +0.1%) acquires Greek money transfer outfits Advanced ChronoCash Services and MoneyGlobe Payment Institutions.
- ACCS has acted as a MoneyGram agent since 2003 and has over 400 locations.
Jul. 19, 2013, 2:49 PM
Jun. 18, 2013, 3:23 PM