Intermex Shares Climb on New York Approval for Western Union Deal

Dow Jones08-14 18:30

International Money Express shares rose after the company gained approval from New York regulators to be acquired by Western Union.

The stock climbed 25% to $14.64 in premarket trading Friday, while Western Union shares remained flat. Through the prior close, Intermex shares had fallen 24% this year.

The New York State Department of Financial Services is allowing the deal between the two cross-border payment companies on certain conditions.

Western Union made certain commitments to the regulator with respect to remittance services and locations in New York following the deal, the companies said, without specifying what those commitments will be.

On Thursday, Western Union and Intermex received a letter from the California Department of Financial Protection and Innovation suspending the acquisition approval extension previously granted on July 31.

The regulator said the suspension was based on a need for further review, since it has been six months since approval was originally granted.

The two companies plan to engage promptly with the California regulator to address questions and seek reinstatement of the approval.

It has been a full year since Western Union said it would acquire Intermex for about $500 million, or $16 a share. At the time, the transaction was expected to close in mid-2026, subject to regulatory approvals.

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