Alex Holmes, chief executive officer of MoneyGram, cited a "change in the geopolitical environment" since it first announced the proposed transaction past year. The company claims 30,000 locations in the USA and more than 350,000 in countries around the world. This was the third time for CFIUS to review the plan, after Ant Financial revised its original offer twice to try to mitigate the agency's concerns.
A US government panel's decision to block Ant Financial's $1.2 billion acquisition of MoneyGram International Inc.is another indication that goodwill built during President Donald Trump's November Beijing trip is fading, according to China's state-run Xinhua news agency. But now it is not to be, and it will be interesting to see what approach Ant - which is hotly tipped to go public in a massive IPO - will take to fill the void beyond this new "strategic business cooperation" with MoneyGram.
Jack Ma, CEO of Alibaba, was looking to expand Ant Financial's payment platform to compete against Tencent's WeChat platform by acquiring Moneygram, a global payment platform.
The chiefs of MoneyGram and Ant Financial said the sale was canceled after opposition from the Committee on Foreign Investment in the United States (CFIUS). Last spring, two U.S. House of Representatives members said the acquisition would give China access to the financial infrastructure of the U.S. The takeover would potentially allow "malicious actors" to obtain data on U.S. military personnel and their families who use the service, the lawmakers said. The Hangzhou-based company then beat a competing bid from United States money-transfer rival Euronet by sweetening its offer from $880 million to $1.2 billion. In accordance with the Merger Agreement, simultaneous with termination of the agreement, Ant Financial paid MoneyGram a $30 million termination fee. "These are all passive, non-controlling stakes, and none of these investors participate in management or have board representation".
MoneyGram and Ant Financial also announced that the two plan to work together on new initiatives in the digital payment market that will directly help achieve both their objective to gain global consumers regardless of the merger.
Such firms that want to work more closely together better get used to developing workarounds.
Ant and MoneyGram terminated their deal after CFIUS rejected their proposals to address data safety concerns, according to sources familiar with the confidential discussions.
The Republican tax plan passed Congress late a year ago before President Donald Trump signed it just before Christmas. MS utility customers could see their power and gas bills reduced as a result of the Tax Cuts and Jobs Act .
The research effort will include "the development of ... the first generation of European low-power microprocessor technology". Despite the EU's ambitions, China has said it plans to have an exascale computer ready in 2018 , five years before the EU.
Ahed and her mother have been ordered to remain in custody until at least January 8, when another hearing will be held. According to a tally by Ma'an news agency Tamimi was the 14th Palestinian to have been killed by Israel since U.S.
For more information on 'Truth or Dare , ' visits its official website , as well as its Facebook , Twitter and Instagram pages. It's not my preferred genre, but I can get into them from time to time if I think it's going to be a really solid movie.
It has underperformed by 16.70% the S&P500.The move comes after 7 months positive chart setup for the $507.43M company. The company's stock has grown by 7.93 percent in the past 5 years. (NASDAQ: MDLZ ) shares were sold by Myers Daniel P.
The market's smooth ride upward hit a bump on Wednesday when concerns rose that a jump in interest rates could derail the ascent. The basic materials company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02.
Jeffrey Moskowitz increased its stake in Intel Corp (INTC) by 104.17% based on its latest 2017Q3 regulatory filing with the SEC. It worsened, as 73 investors sold AMZN shares while 549 reduced holdings. 22 funds opened positions while 52 raised stakes.
The students will be eligible to attend one of 76 colleges and universities in 15 states that partner with the scholarship fund. It also comes as Trump continues his thinly veiled criticism of Bezos, citing his concern about Amazon's impact on the U.S.
The administration is widely expected to give industry exactly what it wants - a relaxation of many of these drilling safeguards. Interior Ryan Zinke made such a pledge on Tuesday in announcing that Florida will be excluded from the offshore drilling plan.
Taylor Swift adds another Pa. concert to her 'Reputation' tour
On New Year's Day, The New York Post posted an article titled, " Taylor Swift's Reputation Tour Shaping Up to be a Disaster ". Fact of the matter is this: old Taylor , who sold tickets for her concerts at $60 a pop, can't come to the phone right now.
Army Personnel Fall From Chopper During Security Drill
The drill is practised relentlessly as stealth and speed is of paramount importance to retain the element of surprise. The "insertion" and "extraction" of commandos is generally carried out by the helicopters in special operations.
Latest News on the Global Online Gaming Industry
The company is showing signs of making a comeback, as competitors are forced to merge and consolidate in order to survive. The industry can be broken down further between mobile gambling and desktop gambling (which includes laptops and PCs).
The Early 2018 World Series Favorites
People expected this young Yankees team (which still has more significant talent on the way from AAA) to start competing in 2018. Taking into account a few articles and odds listings that are already out there, here’s our look at the top contenders. 1.