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China's Jack Ma Challenged by Kansas Firm in MoneyGram Fight

  • Euronet says offer is 15% better than earlier bid from Ma
  • MoneyGram surges 25 percent, suggesting bidding war expected
Jack Ma

Jack Ma

Photographer: Christophe Morin/Bloomberg
Updated on

Six weeks after billionaire Jack Ma’s Ant Financial announced a plan to take over MoneyGram International Inc., a little-known Kansas company is swooping in with a higher bid.

Euronet Worldwide Inc. is offering $15.20 a share for the money-transfer service, topping Ant’s $13.25 bid, according to a statement. Shares of MoneyGram jumped 25 percent to $15.77 in New York after the announcement on Tuesday, suggesting investors expect a bidding war. Euronet rose less than 1 percent to $83.22.