Deals
MoneyGram Seen Cashing In at Decade-High Price: Real M&A
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MoneyGram International Inc., the world’s second-largest provider of money transfers, is poised to reward shareholders with the industry’s biggest payday in a decade.
MoneyGram has hired Bank of America Corp. to explore a sale, according to a person familiar with the matter, who asked not to be named because the process is private. MoneyGram may be able to fetch as much as $27 a share, said Macquarie Group Ltd. and Compass Point Research & Trading LLC. At 37 percent more than the stock’s 20-day average, it would be the highest takeover premium in the commercial financial services industry since 2003, according to data compiled by Bloomberg.