Alibaba’s affiliate company Ant Financial, seems to have won the financial battle war with Euronet which was taking place for the acquiring of the MoneyGram. MoneyGram is a US Based payment service for cross border transactions.Initially, it placed a bid of $880 Million back in January, but now it has been taken further up from the share of $13.25 per share to $18.00 for NASDAQ-listed MoneyGram as a counter bid against Euronet.Ant financial claimed that it has been successful in getting the important approvals to fulfill the transactions for this deal. However, it is still considered to be dependent on the required approvals of US state level committee. The final saying would be taken from the current president of USA “Donald Trump”.
Ant Financial and MoneyGram Interaction:The Ant Financial also said that it has been engaged with the staff of the MoneyGram to closely monitor things. This was a really nice and enjoyable experience for them. They also said that the MoneyGram’s team however is also interested in committing to their plans for the future further investments and business. They also claimed that, they are willing to grow the US based team to create further exposure and opportunities for the MoneyGram.The closing Deal:In the second half of this year, both the parties are expecting this deal to close down. Then after that retaining the headquarters, brand and management in Texas, the MoneyGram will become an independent subsidiary.
