Monday, 22 October, 2018


MoneyGram Sale to Ant Financial Blocked by US

NOT SOLD... A Moneygram logo is seen outside a bank in Vienna Austria NOT SOLD... A Moneygram logo is seen outside a bank in Vienna Austria
Bennie Garza | 13 January, 2018, 01:54

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.

Recommended

loading...
...
  • Gustav Klimt Could Challenge For 2,000 Guineas

    Gustav Klimt Could Challenge For 2,000 Guineas

    However, Gustav Klimt bounced back with a fine performance at the Barronstown Stud Irish European Breeders Fund in June last year. Gustav Klimt moved to the inside down the final furlong and found just enough speed to beat out his compatriot Nebo by a head .
    OH  teacher accused of telling black student he might be lynched

    OH teacher accused of telling black student he might be lynched

    According to Thole's investigation file, the teacher said Nathan was disrupting the class so she told him to get back to work. Upon learning about the incident, Agee-Bell went straight to the Mason Middle School superintendent's office.

    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).
  • Seeyouatmidnight to serve the Scots a Grand National double

    Seeyouatmidnight to serve the Scots a Grand National double

    He was runner-up behind Big River in the Edinburgh Gin Handicap Hurdle at Kelso and he then placed third at Newbury in March. Those having a bet on the Grand National will find him available at 16/1 with Paddy Power in the ante-post list.
    Lyrics From Camila Cabello's Debut Album That Reflect Her Ever-Growing Maturity

    Lyrics From Camila Cabello's Debut Album That Reflect Her Ever-Growing Maturity

    Eventually, she was given an ultimatum: she can not make a solo album while, at the same, time performing with the group. I was just like, 'What? When she asked to help write new music for Fifth Harmony , she was denied.
    Utility Companies Cut Your Utility Bills Thanks to Tax Cuts

    Utility Companies Cut Your Utility Bills Thanks to Tax Cuts

    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 .
  • Irish masters Elliott and Mullins set for three-pronged attacks in Grand National

    Irish masters Elliott and Mullins set for three-pronged attacks in Grand National

    As for Elliott, his Grand National trio this year are headed by three-time Cheltenham Festival winner Tiger Roll . The 2018 renewal has a typically wide-open feel and that’s certainly evident from a betting perspective.

    Brokerages Set $20.00 Price Target for Entercom Communications Corp. (ETM)

    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.
    Northam requests Virginia exemption from Trump's offshore drilling plan

    Northam requests Virginia exemption from Trump's offshore drilling plan

    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.
  • Suspect in Knoxville police shooting added to TBI's Top 10 Most Wanted

    Suspect in Knoxville police shooting added to TBI's Top 10 Most Wanted

    KPD reported that Officer Jay Williams, a 14-year veteran of the police force, tried to pull over Wilson on a speeding violation. Wilson is wanted by Knoxville Police Department and TBI to face a charge of attempted first-degree murder of a police officer.
    North Korea Intends To Send A Big Delegation To The Winter Olympics

    North Korea Intends To Send A Big Delegation To The Winter Olympics

    And South Korea, you should be pleased that we're giving you the gift of our participation in the Winter Olympics. He also said he would "absolutely" be willing to talk on the phone to Mr Kim.
    The Early 2018 World Series Favorites

    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.

General Overview of Cisco CCNA R&S Questions and Answers In addition to this, they will also build their skills and knowledge levels required to implement WLAN in a small/medium network. At the end of the course, they will also be able to resolve regular issues with EIGRP, STP, and OSPF in IPv4 and IPv6 networks.

The First Offline Date After Online Relationships The First Offline Date After Online Relationships The Date Day: How To Behave When you meet your date offline for the first time, there are many things that can go wrong. That is a very responsible step that will either empower or destroy the already formed relationships.

Veteran Ferrer marches to Auckland semis Veteran Ferrer marches to Auckland semis The Bahamas-based Shapovalov was outgunned in every aspect by del Potro , who served big and frequently unleashed his trademark forehand.

Taylor Swift adds another Pa. concert to her 'Reputation' tour 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.

Premier League 17/18: Crystal Palace vs Burnley - Lineups, Preview and Prediction Premier League 17/18: Crystal Palace vs Burnley - Lineups, Preview and Prediction They are in danger of losing their first three competitive matches of a calendar year for the first time since 1987. Roy Hodgson's revival of the South London club has lifted Palace out of the relegation zone and into 14th place.

17yo boy shot dead by Israeli forces during West Bank clashes 17yo boy shot dead by Israeli forces during West Bank clashes 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.

Mondelez International (NASDAQ:MDLZ) Upgraded to "Buy" by Zacks Investment Research It dropped, as 17 investors sold CROX shares while 46 reduced holdings. 165 funds opened positions while 367 raised stakes. Lindsell Train Ltd boosted its stake in shares of Mondelez International by 18.3% during the 3rd quarter. (NASDAQ:MDLZ).

Jeff Bezos contributes $33 million to Dreamers scholarship program Jeff Bezos contributes $33 million to Dreamers scholarship program 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 Latest Tandem Diabetes Care, Inc. (TNDM) Insider Trading Activity The company was downgraded on Friday, September 4 by Zacks. (NASDAQ:TNDM) earned "Sell" rating by Zacks on Wednesday, August 5. Several analysts have released their opinion on Tandem Diabetes Care, Inc. (NASDAQ:TNDM) closed its last session at $3.43.

Investor Catching Stocks: Mondelez International, Inc. (MDLZ), Microsoft Corporation (MSFT) 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.

State criticises European Union report on polls, claims it is 'premature' State criticises European Union  report on polls, claims it is 'premature' And, in an interview with the Financial Times, she said Kenyan officials wanted the release postponed. In Mr Weru's view, Ms Schaake's "rushed" release was a betrayal.

(NYSE:IPI) Insider Robert P. Jornayvaz III Buys 10000 Shares 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.

Trailer for TRUTH OR DARE Thriller Is Here Trailer for TRUTH OR DARE Thriller Is Here 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.

Army Personnel Fall From Chopper During Security Drill 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.

A Groundbreaking Football News: How do Footballers And Dementia Relate? Finally, I think we can hope that the experts would look into the matter in a cautious way in the near future. As per Shearer’s words ‘At least now people have started to look for answers’.