Ant Financial initially announced the acquisition of MoneyGram for $880 million in June, 20 17. After Euronet offered about 10 billion dollars, it raised its bid to about1200 million dollars.
It is reported that Ant Financial was once determined to acquire MoneyGram, the second largest remittance service company in the world, and finally gave up because it failed to get the nod from the Committee on Foreign Investment (CFIUS).
On June 2, 65438 local time in the United States, MoneyMoney and Ant Financial announced the official termination of related mergers and acquisitions. The two sides plan to develop new strategic business cooperation in remittance and electronic payment markets, and use their respective advantages to provide fast response and low-cost transfer and remittance services to customers around the world.
Alex Holmes, CEO of MoneyMoney, said frankly in a press release: "The geopolitical environment has changed a lot since we first announced the proposed transaction with Ant Financial a year ago. Although we do our best to cooperate with the US government, it is now clear that CFIUS will not approve this merger. "
2017 65438+1October 26th, in order to expand its globalization strategy. Ant Financial reached an M&A agreement of 880 million dollars (about 6.05 billion yuan) with MoneyGram at a price of 65,438 dollars +03.25 yuan per share. According to the idea at that time, after the merger, MoneyMoney will operate as an independent unit under Ant Financial, and its existing brand and team will still be retained. Personal overseas fast remittance business can be conducted at the designated outlets of the above-mentioned Chinese banks through the MoneyMoney global network, which belongs to one of the foreign exchange businesses represented by banks.
The failure of Ant Financial to acquire MoneyGram will affect the investment of foreign companies in the United States. Many technology companies are becoming more and more international, so they must enter the United States.