MoneyGram International (MGI) Soars By 7% After Rumored Getting Acquired By Private Firm: Is It Risky To Invest Yet?

MoneyGram stock has been showing good bulls but started with bears on July 12 when the stock crashed trading from $11.07 to $9.89 on July 13. It marked an 11.9% increase. As of right now, the stock is increasing by 7% in the open market. This jump is mainly caused by the rumors of the company getting acquired by private equity.
The Financial Times reported on Friday about the rumor of MoneyGram being interesting to be acquired by Advent firm. Though the Financial Times didn’t reference this rumor. MoneyGram is close to completing a major debt refinancing, which could take place as early as next week, the FT reported. Both companies refused to comment on the rumor of the Financial Times.

MoneyGram, which processes transactions for retailers, is planning to raise $415 million in a private placement of senior secured notes. The company said it would use the income to pay off its debts and for its main needs. In February 2018, MoneyGram and CoinMe, the world’s largest decentralized digital money exchange, partnered to allow its customers to buy and sell Bitcoin. MoneyGram and CoinMe are entering a partnership that will allow consumers to send and receive Bitcoin in local fiat currency.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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