Euronet Worldwide Proposes To Buy MoneyGram For $15.20/shr

(RTTNews) - Euronet Worldwide Inc. (EEFT), electronics payments provider, said that it has made a proposal to acquire all shares outstanding of MoneyGram International, Inc. (MGI) for $15.20 in cash for each share of MoneyGram Common Stock and MoneyGram Preferred Stock on an as-converted basis, valuing the company at more than $1 billion, in addition to the assumption of approximately $940 million of MoneyGram's debt outstanding.

The proposal represents a premium of approximately 15% over the Ant Financial Services Group offer and a premium of 28% over the closing price of $11.88 for MoneyGram stock on the final day of trading prior to the transaction announcement on January 26, 2017.

The offer also represents a premium of approximately 38% to MoneyGram's volume weighted average share price over the three month period prior to the Ant Financial transaction announcement.

The proposal offers stockholders a clear and significantly more certain path to a faster closing with no required review by the Committee on Foreign Investment in the United States or "CFIUS" and no closing condition related to securing change of control consents covering money transmitter licenses in the jurisdictions in which MoneyGram operates.