Deals
MoneyGram to Be Bought by Madison Dearborn for $1 Billion
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MoneyGram International Inc., one of the largest money-transfer services in the U.S., agreed to be acquired by Madison Dearborn Partners for about $1 billion in cash.
The private equity firm will pay $11 a share for Dallas-based MoneyGram, the companies said Tuesday in a statement. The price is 23% higher than the closing price Monday. Madison Dearborn also agreed to refinance $799 million of the target’s debt.