The Western Union Company (NYSE:WU) today announced that it has delivered a notice of termination of its agreement to acquire International Money Express, Inc. (“Intermex”) (NASDAQ:IMXI).

Since entering into the Merger Agreement, Western Union has worked diligently with Intermex and the relevant regulatory authorities to obtain the approvals necessary to complete the transaction. Western Union says that, despite these efforts, the parties were unable to obtain an acceptable approval.

Instead, on the evening of November 10, 2026, California’s Department of Financial Protection & Innovation (DFPI) delivered unacceptable final Conditions of Approval that would have required material changes to Western Union’s business model, its agent relationships and execution of its long-term business strategy. Western Union viewed these conditions as substantial and not in the best interests of Western Union, its agents or its shareholders.

Western Union stated:

“Western Union is committed to maintaining robust compliance programs and meeting its regulatory obligations globally, while advancing its longstanding mission of making financial services accessible to people everywhere. California did not identify any failure of Western Union to comply with legal requirements related to the prevention of fraud and scams, money laundering, or providing fair and competitive access for customers. Additionally, Western Union has been and continues to be in compliance with our consent order with the Federal Trade Commission.”

As background, California granted the initial request for approval on February 11, 2026, without the unacceptable conditions. DFPI then granted the request to extend on April 17, 2026, and July 31, 2026. Thirteen days after granting the second extension request, DFPI withdrew its previously granted approval, notwithstanding any meaningful change in the company’s business or operations. Western Union had received approvals from every other jurisdiction, with the exception of California. This included 54 states, territories and foreign countries, including merger clearance in the U.S., as well as change of control filings in U.K. and Spain.

In light of DFPI’s unacceptable conditions and following a thorough review of the transaction with legal and financial advisors and management, Western Union’s Board of Directors has determined to terminate the Merger Agreement. Under the terms of the Merger Agreement, neither Western Union nor Intermex is required to make any payment to the other in connection with the termination.

“We appreciate the significant effort of the teams at Western Union and Intermex who worked diligently for over a year to pursue the transaction,” said Devin McGranahan, President and Chief Executive Officer of Western Union. “While we are disappointed that we were unable to complete the acquisition on terms that were acceptable to Western Union, we believe this course of action is in the best interests of the company and its shareholders. We remain focused on executing our strategy and delivering long-term value for our customers, shareholders and other stakeholders.”