Madison Dearborn Partners has agreed to buy MoneyGram International Inc in a deal valued at $1.8 billion, as the private equity firm seeks to turn around fortunes for the debt-laden money transfer platform facing stiff competition.
MoneyGram had initially received a $10.50 per share offer from Madison, as well as competing bids from Siris Capital Group LLC and Advent International Corp, sources told Reuters last month.
It had engaged with potential buyers several times in the last few years, including in 2018 when its $1.2 billion sale to China’s Ant Financial fell through because of the U.S. government’s concerns over national security.
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