(Bloomberg) Stellar Development Foundation is working with private equity Advent International on a potential acquisition of MoneyGram.
MoneyGram has been targeted for takeover for years, with its stock up 265% in the past year, on growing demand for online payments.
In 2017, Ant Group aimed for a takeover bid of MoneyGram before giving up as it fought with regulators.
Stellar has been overseeing a network of cross border payments, while Boston-based Advent has experience of investments in the payments space.
No final decision regarding the deal has been made and the companies could opt out of the MoneyGram deal.
MGI: NASDAQ is up +1.91% on premarket.
