Money transfer company MoneyGram is seeking a buyer
Illustration: Lazaro Gamio/Axios
MoneyGram (Nasdaq: MGI), a Dallas-based money transfer company whose largest shareholder is private equity firm Thomas H. Lee Partners, is exploring a sale, per Reuters. It also is seeking to restructure its $900 million debt-load.
Why it matters: This is the culmination of an awful year for MoneyGram, which just 13 months ago was under agreement to be acquired for $1.2 billion by Alibaba's Ant Financial. But U.S. regulators blocked that deal on national security grounds, sending MoneyGram's shares down more than 80%. In fact, its current market cap is close to the $125 million that MoneyGram was recently fined for not doing enough to prevent fraudulent money transfers.