Western Union, Intermex await one state approval for acquisition
Western Union and International Money Express (Intermex) are awaiting final regulatory approval from one U.S. state to complete their acquisition. They have secured approvals from 51 U.S. states and territories and all international jurisdictions, with the New York State Department of Financial Services being a key regulator involved. The transaction will close upon receipt of the final approval and satisfaction of customary conditions.
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Western Union and International Money Express (Intermex) are awaiting final regulatory approval from one U.S. state to complete their pending acquisition. To date, money transmission regulators in 51 applicable U.S. states and territories and in all international jurisdictions have provided their approval of or non-objection to the transaction. The companies remain actively engaged in discussions with regulators, including the New York State Department of Financial Services, to secure the remaining authorization.
The acquisition requires approval or non-objection from all relevant jurisdictions before it can be finalized. Western Union and Intermex anticipate closing the transaction as soon as reasonably practicable upon receipt of the final regulatory approval and satisfaction of other customary closing conditions. The completion of the deal remains subject to these outstanding regulatory clearances.
Regulatory Approval Status
The following table outlines the current status of regulatory approvals for the acquisition:
| Jurisdiction Type | Status |
|---|---|
| U.S. States and Territories | 51 approved or non-objection received |
| International Jurisdictions | All approved or non-objection received |
| Remaining U.S. State | Approval pending |
The companies have not disclosed a specific timeline for when the final approval might be granted. Both Western Union and Intermex have stated that they are working diligently with the remaining regulators to bring the transaction to a close.
What specific concerns might the remaining U.S. state regulator have regarding the acquisition?
How will the combined entity's market share impact competition in the money transfer industry?
What strategic synergies do Western Union and Intermex expect to achieve post-acquisition?
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