MoneyGram In Confidentiality Deal With Euronet To Further Consider Euronet's Bid

(RTTNews) - MoneyGram International Inc. (MGI) said Sunday that it has entered into an Acceptable Confidentiality Agreement with Euronet Worldwide Inc. (EEFT) so that it can further consider Euronet's unsolicited proposal made on March 14, 2017 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.

As previously announced on March 20, 2017, MoneyGram's board of directors determined that the unsolicited Euronet proposal could reasonably be expected to result in a "Company Superior Proposal" as defined in MoneyGram's merger agreement with Ant Financial Services Group. MoneyGram noted at that time that the determination by its board of directors allows MoneyGram to take certain actions, in accordance with the procedures set forth in the merger agreement with Ant Financial, to further consider the Euronet Proposal, including engaging in discussions with Euronet subject to entry into an Acceptable Confidentiality Agreement with Euronet pursuant to such merger agreement.

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 merger agreement with Ant Financial. In connection with its approval of that merger agreement, MoneyGram's board of directors determined to recommend that MoneyGram stockholders approve the merger agreement. The MoneyGram board of directors has not changed its recommendation in support of the merger agreement, nor is the MoneyGram board of directors making any recommendation with respect to the Euronet Proposal.