MGI - MoneyGram jumps as sale to Madison Dearborn gets final regulatory approval

2023-05-04 12:50:45 ET

• MoneyGram ( NASDAQ: MGI ) soared 13% after buyer Madison Dearborn confirmed it received approval from India for its planned acquisition, the final regulatory approval need for a deal close.
• The parties have now received all regulatory conditions for closing the transaction, according to a statement. The deal is expected to close on or before June 1.  MoneyGram ( MGI ) and Madison Dearborn will commence the financing marketing period pursuant to the merger agreement.
• Investors have been waiting any update on the planned sale to Madison Dearborn, which needed approval from regulators in India. M&A investors had become worried on the deal as a May 14 termination deadline approaches.
• MoneyGram ( MGI ) agreed to be sold to Madison Dearborn for $11/share in February of last year.

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