MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, announced that stockholders overwhelmingly approved the transaction with affiliates of funds managed by Madison Dearborn Partners, LLC (collectively, “MDP”). Based on the preliminary voting results from the Special Meeting of Stockholders held today, over 99% of votes cast were in favor of the transaction. The companies remain on track to close the transaction in the fourth quarter 2022, subject to receipt of remaining regulatory approvals, including required approvals in various jurisdictions related to money transmitter licenses.
“I want to thank our stockholders for their overwhelming support for our transaction with MDP,” said Alex Holmes, MoneyGram Chairman and CEO. “With the approval of MoneyGram stockholders and the other key milestones achieved to date, we believe we are on track to complete the transaction in the fourth quarter. We look forward to joining forces with MDP and capitalizing on the significant opportunities we see ahead for the MoneyGram team, our partners and our customers around the world.”
In addition to MoneyGram stockholders’ approval of the transaction, MoneyGram and MDP have achieved a number of other milestones necessary to complete the transaction, including:
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The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with the previously filed premerger notification form submitted by MoneyGram and MDP.
The companies have submitted all applicable foreign antitrust filings except for one jurisdiction which is close to being finalized and all applicable Foreign Direct Investment filings have been made.
To date, 12 state money transmitter regulators have provided their approval or non-objection of the transaction. The required international money transmitter regulators have all been notified of the transaction and any related supplemental filings are in process and will be filed in due course.
The final voting results will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission after certification by MoneyGram’s inspector of elections.
MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connecl̥t the world’s communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation