Western Union Makes Offer to Acquire MoneyGram
Main page News, XRP

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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