FILE PHOTO: A logo of Ant Financial is displayed at an event of the company in Hong Kong, China November 1, 2016. REUTERS/Bobby Yip/File Photo
BEIJING: Ant Financial raised its agreed offer for MoneyGram International Inc by 36% as the financial-services company controlled by Chinese billionaire Jack Ma tries to top a competing offer and overcome security concerns.
The revised bid is worth US$18 a share in cash, up from a previous offer of US$13.25, the companies said in a joint statement. The new deal, which has the backing of MoneyGram’s board, values all the common and preferred stock at US$1.2bil, it said. Euronet Worldwide Inc last month offered US$15.20 a share for the Dallas-based payments company.
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