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Euronet Worldwide Inc. is among the bidders for MoneyGram International Inc.
MGI, the rival money-
transfer service that put itself up for sale earlier this year,
said a person with knowledge of the matter.
Carlyle Group LP and at least three other buyout firms
withdrew, said the person, who asked for anonymity because the
sale process for Dallas-based MoneyGram isn't public. Bank of
America Corp. was hired to find suitors, a person familiar with
the matter said in June.
Euronet tried to buy MoneyGram at least once before with a
$1.65 billion bid in 2008, only to be thwarted when its target
sold a majority stake to Thomas H. Lee, the Boston-based
private-equity firm, and Goldman Sachs Group Inc. MoneyGram has
since posted losses in four of the last six years amid
competition with firms such as Western Union Co.
Michael Gutierrez, a spokesman at MoneyGram, and
representatives for Carlyle, Thomas Lee, Goldman Sachs and Bank
of America said their firms had no comment on the sale or didn't
respond to inquiries.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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