Moneygram gains on speculation of potential takeout offer (update)

Jul. 16, 2021 7:16 AM ETMoneyGram International, Inc. (MGI)MGI, WU, GDOT, PYPLBy: Joshua Fineman, SA News Editor2 Comments

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  • Update 11:05am: Advent declines to comment.
  • Moneygram (NASDAQ:MGI) rose 4.5% on speculation of a potential takeout bid from private equity firm Advent.
  • The money transfer company is speculated to be "in the sights" of Advent, according to an FT report. The report didn't cite any sources and Advent and Moneygram declined to comment to the publication.
  • Moneygram also declined to comment to Seeking Alpha, citing a policy of not discussion market rumors or speculation. Advent also declined to comment to Seeking Alpha.
  • Last June, Western Union offers to buy MoneyGram - Bloomberg.
  • Recall that in 2018 Ant Financial and Moneygram terminated a deal agreement after the companies couldn't get clearance from the U.S. Committee on Foreign Investment in the U.S.

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