MoneyGram-Ant Financial Merger Fails CFIUS Clearance.

pexels-photo-259165.jpegChina-based Ant Financial Services Group sought CFIUS approval for a merger with Dallas-based MoneyGram. On January 2, 2018 a joint press release from MoneyGram and Ant Financial confirmed the parties have terminated their agreement to merge despite their efforts to seek approval from the Committee on Foreign Investment in the United States (CFIUS).

In April 2017, MoneyGram approved a $1bn takeover offer from Ant Financial. Ant Financial is run by Jack Ma, founder of Ali Baba – the world’s largest financial technology company with more than 500 million customers in China.

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