Western Union in talks to buy smaller rival MoneyGram-Bloomberg
May 5 (Reuters) - Western Union Co, the world's largest money transfer company, is in early-stage talks to acquire smaller rival MoneyGram International Inc, Bloomberg reported, citing people with knowledge of the matter.
Shares of MoneyGram, which has a market value of about $400 million, were up 32 percent at $10.30 in after-market trading.
MoneyGram had $963.5 million in long-term debt, according to its annual filings.
Western Union has a market value of about $11 billion.
Talks may still fall apart, Bloomberg said in its report. (http://bloom.bg/1EOQBzp)
One potential hurdle is whether regulators would block the deal on antitrust grounds, the report said.
Western Union and MoneyGram could not be immediately reached for comment.
(Reporting by Neha Dimri in Bengaluru; Editing by Sriraj Kalluvila)
