All Regulatory Hurdles Cleared for Western Union's Intermex Acquisition
IMXI sits 56% above its 52-week low of $8.58.
Summary
Western Union and International Money Express announced that all regulatory approvals for the pending acquisition of Intermex have been secured, with 51 U.S. states and all international jurisdictions either approving or not objecting to the deal. This update resolves the 'one regulatory approval still outstanding' mentioned in International Money Express's May 11th 10-Q filing. The clearance of all regulatory hurdles significantly de-risks the acquisition, making its completion highly probable.
At the time of this announcement, IMXI was trading at $13.41 on NASDAQ in the Finance sector, with a market capitalization of approximately $400.6M. The 52-week trading range was $8.58 to $15.95. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.