Euronet considering another bid for MoneyGram

By Lisa Kerner

Charlotte, N.C., Feb. 20 - Euronet Worldwide Inc. might try again to acquire MoneyGram International, Inc., but only if the offer is accretive to its stockholders.

MoneyGram's go-shop period under its agreement with Thomas H. Lee Partners, LP and Goldman, Sachs & Co. ends March 7, according to a Euronet news release. It was previously reported that Thomas H. Lee and affiliates of Goldman Sachs are expected to make an equity investment in MoneyGram up to $775 million.

In December, Euronet offered to acquire MoneyGram in an all-stock transaction valued at $1.65 billion, or $20 per MoneyGram share, with a fixed exchange ratio of 0.6179 of a Euronet common share for each share of MoneyGram.

Euronet purchased 1.3 million shares of MoneyGram common stock for $20 million during the fourth-quarter 2007 in connection with its interest in acquiring MoneyGram.

As of Feb. 19, Euronet's investment was reduced to some $6.1 million following MoneyGram's announcement of investment portfolio losses and its intention to recapitalize the company.

Based in Leawood, Kan., Euronet provides products and services for electronic payments.

MoneyGram is a payment services company located in Minneapolis.

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