Popular money transfer company Western Union has just made a takeover offer for MoneyGram International, Bloomberg reports.
According to the media, the company has made a takeover offer, however, "no decision has been made and Western Union could opt to proceed without a deal."
The price of MoneyGram shares has grown sharply after the news was known in late Monday.
If completed successfully, Western Union would acquire a company that currently has a business relationship with Ripple, which has a 9.95% stake in MoneyGram.
MoneyGram uses Ripple's ODL product to facilitate cross-border remittances.
MoneyGram has a market cap of around $155M, while Western Union has a market capitalization of up to $8.2B.
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