Simpson Thacher is representing Ant Financial Services Group in connection with its agreement to raise its offer price for MoneyGram International Inc. (NASDAQ: MGI) to $18 per share in cash, thereby topping a competing offer from MoneyGram’s competitor Euronet. The revised transaction is valued at approximately $1.204 billion for MoneyGram’s outstanding equity. The transaction is subject to the approval of MoneyGram stockholders at a special meeting scheduled for May 16, obtaining remaining regulatory approvals and other customary closing conditions. The transaction continues to be expected to close in the second half of 2017.
Ant Financial Services Group is focused on serving small and micro enterprises, as well as consumers, and businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank. MoneyGram is a global provider of innovative money transfer services and is recognized worldwide as a financial connection to friends and family.
The Simpson Thacher team includes Lee Meyerson, Katie Sudol, Ravi Purushotham, Ashleigh Taylor, Sonya Ho and Erika Tang (M&A); Jessica Tuchinsky, Jackie Kahng, Preeta Paragash and Christian Jackson (Financing); Tanvi Mirani (Tax); Adeeb Fadil (Environmental); Larry Moss, Jennifer Pepin and Michael Cook (Employee Compensation and Benefits); Lori Lesser, Linda Nyberg and Alexander Moser (Intellectual Property); Keith Noreika, Mark Chorazak and Spencer Sloan (Regulatory); David Vann and Mathieu Coquelet-Ruiz (Antitrust); and Peter Thomas, David Shogren and Mark Skerry (CFIUS).