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MoneyGram to remain public after suitors fail to meet asking price

3 Oct 2013

dollar envelope moneyMoney transfer company MoneyGram International has reportedly decided to remain public after failing to secure a leveraged buyout offer from private equity firms.

None of the offers received by MoneyGram were in line with its expectations, said Reuters, citing three people familiar with the matter.

MoneyGram, which is currently trading at $18.75 per share on the Nasdaq exchange and has a market cap of $1.1bn, expected an offer in the mid-$20-per-share range, according to one of the sources.

The company was in final stage discussions with Washington-based buyout giant Carlyle, said two of the people.

Two months ago it was reported that Carlyle, Bain Capital and GTCR were participating in an auction for MoneyGram, which was in the second round of bidding.

The company was also was to be in takeover talks with two industry players.

Back in 2008 an investment group led by growth buy-out firm Thomas H. Lee Partners invested at least $710m in a recapitalisation of MoneyGram.

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