Moneygram gains on speculation of potential takeout offer (update)

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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.

Comments

[YellowRabbit]

You are wrong, at $3 it was pricey, now it's a bargain. Now all the goverment risk has been removed. Company's online business has given a dying business a future.IF you compare western unions EV of around 11 Billion, and realize MGI is doing 1/3 of the business,you need to realize their EV should be about 3.5 billion, that means MGI is a $20 stock and beyond if it keeps doing well. Buying it for $10 dollars is bargain,my opinion, the deal with no go through because MGI will not accept. A few more quarters of good cashflow and growing business will have the stock moving towards the 20 dollar range on it's own.

[deadhead213]

At 3.00 it was a bargain.now, it’s pricey