Euronet Worldwide enters confidentiality with MoneyGram in bid against China-based rival

The bidding war between Leawood-based Euronet Worldwide and Chinese billionaire Jack Ma’s company over MoneyGram International took another step forward.

MoneyGram said it entered into a confidentiality agreement with Euronet, allowing the potential seller to further weigh Euronet’s offer that values MoneyGram at nearly $2 billion.

Euronet offered to buy MoneyGram for $15.20 a share after Ma’s Ant Financial Services Group had reached a deal to buy MoneyGram for $13.25 a share. MoneyGram said last week that Euronet’s offer “could reasonably be expected to result in a...superior proposal” and that it planned to have discussions with the bidder.

This story was originally published March 27, 2017 at 1:26 PM with the headline "Euronet Worldwide enters confidentiality with MoneyGram in bid against China-based rival."