The Dallas-based company, with nearly $800m in net debt and more than 150m customers, became an acquisition target as it struggled to capture the growing market for payments and remittances amid competition from rivals such as Remitly Global and Western Union.
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Buyout firm Madison Dearborn to take MoneyGram private in $1.8b deal
It had engaged with potential buyers several times in the last few years, including in 2018 when its $1.2 billion sale to China's Ant Financial fell through because of the U.S. government's concerns over national security.
