Why Shares of MoneyGram International Are Rising Today

Shares of the cross-border payments company MoneyGram International (NASDAQ: MGI) traded nearly 9% higher in the final hour of trading for no obvious reason, although the move is likely tied to acquisition rumors.

Last week, Reuters, citing anonymous sources, reported that MoneyGram had now received multiple offers to acquire the company. The report said that there had been three offers from the private equity firms Madison Dearborn Partners, Siris Capital Group, and Advent International Corp.

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Source Fool.com