MoneyGram Confirms Receipt Of $15.20/shr Proposal From Euronet Worldwide

(RTTNews) - MoneyGram International Inc. (MGI) confirmed that it has received an unsolicited proposal from Euronet Worldwide Inc. (EEFT) to acquire all of the outstanding shares of MoneyGram Common Stock and Preferred Stock for $15.20 per share in cash on an as-converted basis.

MoneyGram noted that its Board will carefully review and consider the proposal to determine the course of action that it believes is in the best interests of the Company and its stockholders.

As previously announced on January 26, 2017, MoneyGram entered into a definitive agreement with Ant Financial Services Group under which MoneyGram will merge with Ant Financial, with stockholders of MoneyGram being offered $13.25 per share in cash.

MoneyGram remains subject to the terms of the definitive merger agreement with Ant Financial and MoneyGram's Board has not changed its recommendation in support of the merger agreement with Ant Financial, MoneyGram said.