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International Money Express Inc

International Money Express, Inc., together with its subsidiaries, operates as an omnichannel money remittance services company in the United States, Latin America, Mexico, Central and South America, the Caribbean, Africa, and Asia. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards. It provides services through sending and paying agents and company-operated stores, as well as through online and internet-enabled mobile devices. The company was founded in 1994 and is headquartered in Miami, Florida.

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Western Union and Intermex Update on Pending Acquisition

Western Union and Intermex announced that they have received regulatory approval from the New York State Department of Financial Services for Western Union's pending acquisition of Intermex. However, the California Department of Financial Protection and Innovation has suspended its previously granted approval extension, citing a need to further review the transaction and its impact on operations in the state. Western Union and Intermex intend to engage promptly with the California regulator to address its questions and seek reinstatement of the approval. The companies remain committed to completing the transaction and plan to close promptly after reinstatement, subject to remaining customary closing conditions.
Business Wire·13dRead more ▾
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International Money Express jumps 35% after New York approves Western Union deal

International Money Express soared 35% in after-hours trading after the New York Department of Financial Services approved its $500 million sale to Western Union. The regulator, in partnership with the New York State Attorney General’s Office, secured commitments from Western Union to maintain services for communities throughout New York after acquiring International Money Express. The NYDFS was the last regulator needed to win approval for the sale, which Western Union agreed to last August at $16 per share in cash. Western Union CFO Matt Cagwin said the company is modeling a September 1 close for the deal.
Seeking Alpha·13dRead more ▾
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Western Union jumps 10% on report of strategic review and takeover interest

Western Union shares surged 10% after a report that the company has begun a strategic review following an approach from a private equity firm at a price just below $10 a share. The company is now inviting offers from other possible bidders, according to traders citing a Betaville uncooked alert. The speculation comes as Western Union is in the late stages of its planned $500 million takeover of International Money Express, whose shares edged 0.5% lower on Tuesday.
Seeking Alpha·22dRead more ▾
IMXI3

Western Union, Intermex Receive Most Regulatory Approvals for Pending Acquisition

Western Union and International Money Express, or Intermex, announced that money transmission regulators in 51 U.S. states and territories and all international jurisdictions have approved or not objected to Western Union's pending acquisition of Intermex, with approval still pending from one U.S. state. The companies remain actively engaged with regulators, including the New York State Department of Financial Services, to secure the final regulatory approval. Western Union shares last closed at $7.24, up 2.99%.
RTTNews·63dRead more ▾