Western Union declares halt to Intermex acquisition, while Intermex demands merger completion
WU Western Union Company
$6.94 +1.17%
View chart & analysis → - 1Western Union notified that it is terminating its $500 million acquisition agreement with Intermex.
- 2Intermex rejected Western Union's termination of the acquisition agreement and demanded the completion of the merger.
- 3Western Union has launched a voluntary severance program that will lay off 500 full-time employees and expects an additional 150 retirements.
So what's the key point?
Western Union canceled its promise to buy Intermex. Intermex is demanding that the merger be finished instead of ending the contract.
Source The Wall Street Journal +2 · View original ↗
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