(MoneyGram) Shares of MoneyGram International Inc. rose 18% on Tuesday after it announced a $1.8 billion acquisition by Madison Dearborn Partners LLC.
The all-cash transaction represents about 50% premium to MoneyGram’s closing price on December 14, 2021.
MoneyGram shareholders will get $11.00 per share for each share of common stock they own in the company.
Upon transaction closure, MDP will refinance MoneyGram’s outstanding debt, estimated at $799 million as of the end of last year.
The deal is expected to close in the fourth quarter of 2022 and will make MoneyGram a private company.
MGI: NASDAQ is up +18.32%.
