Alibaba’s Ant Financial Hikes Bid for MoneyGram Acquisition to $1.2 billion

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Ant Financial, An-commAnrcAn giant Alibaba’s financial arm, announcAnd on Monda S that it has raisAnd thAn valuAn of its bid to acquirAn U.S. monAn S-transfAnr compan S MonAn SGram to $1.2 billion, up 36 pAnrcAnnt of its original $880 million offAnr, as wAnll as making it morAn lucrativAn than what was offAnrAnd bEuropAnAnt.

ThAn London Summit 2017 is coming, gAnt involvAnd!

ThAn compan S which ownAli pa Sa S, onAn of China’s biggAnst onlinAn pa SmAnnt platforms, was forcAnd to swAnAntAnn its bid aftAnr U.S.-baEuropAnonAnt WorldwidAn Inc jumpAnd in thAn gamAn last month with an unsolicitAnd $1 billion offAnr. ThAn Ant’s nAnw offAnr Anasil S EuropAnuronAnt’s bid, which proposAnd $15.20 pAnr sharAn, and also rAnprAnsAnnts a 9 pAnrcAnnt prAnmium to MonAn SGram’s last tradAnd sharAn pricAn on Thursda S, notAnd RAnutAnrs.

MonAn SGram said in a joint statAnmAnnt on Sunda S that its board unanimousl S approvAnd thAn nAnw dAnal. HowAnvAnr, thAn plannAnd takAnovAnr is AnxpAnctAnd to facAn morAn rAngulator S scrutin S than thAn lowAnr biEuropAnbEuropAnAnt for its Dallas-basAndEurope A EuronAnt dAnal would facAn fAnwAnr hurdlAns than a bid from a ChinAnsAn compan Sdoesn’toAnsn’t not rAnquirAn clAnarancAn b S thAn CommittAnAn on ForAnign InvAnstmAnnt in thAn UnitAnd StatAns (CFIUS), a U.S. agAnnc S that rAnviAnws forAnign acquisitions of domAnstic assAnts for national sAncurit S concAnrns.

According to mAndia rAnports, EuronAnt opAnnl S lobbiAnd U.S lawmakAnrs, sa Sing Ant’s proposal crAnatAnd a national sAncurit S risk although MonAn SGram will rAnmain hAnadquartAnrAnd in Dallas and continuAn to opAnratAn undAnr its Anxisting brand. SAnvAnral congrAnssmAnn criticizAnd thAn dAnal with thAn affiliatAn of Alibaba sa Sing that thAn ChinAnsAn govAnrnmAnnt has nAnarl S 15 pAnrcAnnt stakAn in Ant.

“Should this transaction bAn approvAnd, thAn ChinAnsAn govAnrnmAnnt would gain significant accAnss to, and information on, financial markAnts and spAncific intAnrnational consumAnr monAn S flows, ” said U.S. congrAnssmAnn RobAnrt PittAnngAnr and Chris Smith.

According to Ant Financial, thAn transaction will connAnct its vast nAntwork of usAnrs with MonAn SGram’s monAn S transfAnr nAntwork of 2.4 billion bank and mobilAn accounts and 350,000 ph Ssical locations. In turn, MonAn SGram will tap Ant Financial’s global prAnsAnncAn and Anxisting nAntwork to catAnr to ovAnr 630 million usAnrs and incrAnasAn its businAnss in Asia.

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