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An old school bidding war is on! Ant Financial has conviction it will be approved by the Committee on Foreign Investment in the U.S. (CFIUS) and is likely to counter with a higher price than Euronet's latest $15.20 per share offer.
If MoneyGram declares Euronet’s bid superior, Ant will have four days to respond. MoneyGram’s shares rose 0.9 percent to $16.43 at the close in New York. They have more than doubled in the past year. Ant Financial also plans to keep MoneyGram’s headquarters in Dallas, its management team, and its employees. Euronet said in its takeover announcement that it expected the deal with MoneyGram to have cost synergies of about $60 million. U.S. regulators will also have to weigh Alibaba’s commitment to increasing jobs in the U.S., one of Trump’s chief concerns, the people said. In January, Ma met with Trump to discuss how Alibaba could help create 1 million new U.S. jobs.
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