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Article: MoneyGram International, Inc. Comments on Letter from Euronet.
- Article from:
- Business Wire
- Article date:
- December 13, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS -- MoneyGram International, Inc. (NYSE:MGI) confirmed today that it has received an unsolicited letter from Euronet Worldwide (NASDAQ:EEFT), proposing a business combination between MoneyGram and Euronet in which MoneyGram shareholders would receive shares of Euronet common stock at a fixed exchange ratio of 0.6179 shares of Euronet common stock in exchange for each MoneyGram share. This ratio would represent approximately $20.00 per MoneyGram share based on the closing price of Euronet shares on the December 4 date of that letter but would represent approximately $16.75 per MoneyGram share as of the trading price of Euronet shares at noon ET today. The ...
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