Jefferies Maintains Buy on Western Union

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Jefferies is out with its report today on Western Union
WU
, maintaining Buy. In a note to clients, Jefferies writes, "Earlier, WU announced its planned acquisition of Travelex's Global Business Payments division for £606M ($970M) in cash. We believe the acquisition may prove positive in the long term, as WU seeks to further penetrate the B2B cross-border payments market. But in the near-term, we think the transaction may create incremental execution risk. Importantly, we don't think this deal impacts WU's return of cash to shareholders." At the time of posting, shares of WU were trading at $19.36, up 0.10% from Tuesday's close.
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Posted In: Analyst ColorAnalyst RatingsData Processing & Outsourced ServicesInformation TechnologyJefferieswestern union
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