Intermex Falls 5.2% for Third Day as Investors Await Western Union Deal Update

Price ActionM&A · PartnershipRegulation
โดย Seeking Alpha·US·Read original
Summary · why it matters

International Money Express dropped 5.2% and fell for a third straight day as investors wait for an update on its planned $500 million sale to Western Union. Shares of Intermex have declined 11% this week on no new apparent news, and the stock is now trading at its lowest since Aug. 13, the day before a New York regulator approved the transaction in what investors initially thought was the final approval needed for the deal to close. The companies also announced the same day that they received a letter from the California Department of Financial Protection and Innovation suspending the approval extension previously granted on July 31. Some people have told Seeking Alpha that Western Union has been conducting meetings with investors this week, which may be the reason for Intermex's decline. Western Union and Intermex did not immediately respond to Seeking Alpha's email request for comment. Western Union agreed to buy Intermex for $16 per share in cash last August.

Impact on stocks 2

Digital Finance & Tokenization▼ · 2 stocks
International Money Express Inc
IMXI
▼ NegativeRegulationrelevance

California DFPI suspended the previously granted approval extension for the Western Union deal, and the stock keeps falling as investors await a deal update.

Western Union Co
WU
± MixedRegulationrelevance

Western Union's $500M acquisition of Intermex faces a suspended California approval, though the article gives no clear read on WU's own direction.

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