Western Union Wants to Buy MoneyGram

 

Western Union is intended to buy an American money transfer company MoneyGram.

As Bloomberg has reported on June 1, the leading payments company made an offer for MoneyGram. In case the parties agree a deal, this would combine the 2 of the largest money transfer companies in the US.

Regarding the topic, representatives of Western Union & MoneyGram declined to give any comment.

MoneyGram, which is based in Dallas, has struggled due to the COVID 19 pandemic. It was forced to shutter the number of transactions accross the world as governments imposed shelter-in-place orders. At the same time, the payment company has increased digital transactions.

MoneyGram has a market cap of over $155 million USD, with Western Union valued at approximately $8.2 billion USD. MoneyGram also has about $878 million of debt.

 

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