Nasdaq provides info on trading in MoneyGram International shares
Nasdaq has provided information regarding trading in the shares of MoneyGram International, Inc. (MGI) in connection with the anticipated closure of the acquisition of MGI by Madison Dearborn Partners.
At a special meeting held on May 23, 2022, the shareholders of MoneyGram International, Inc. (MGI) approved the proposed merger with an affiliate of Madison Dearborn Partners, LLC. The merger is tentatively scheduled to close prior to the market open on June 1, 2023.
In anticipation of the closing, the stock will be halted immediately following the after-hours session at 8 p.m. on May 31, 2023. If the merger closes as anticipated, the stock will remain halted on the day of closing (June 1st) and will be suspended effective June 2, 2023.
MoneyGram and private equity firm Madison Dearborn Partners, LLC (MDP) announced in February 2022 a definitive agreement under which funds affiliated with MDP will acquire all outstanding shares of MoneyGram for $11.00 per share in an all-cash transaction valued at approximately $1.8 billion.
On May 4, 2023, the parties received approval from the Reserve Bank of India. As a result, all money transmission regulators in all applicable domestic and international jurisdictions have now provided their approval or non-objection of the transaction. All other regulatory conditions to closing had previously been met.