MoneyGram, Ant Financial terminate merger agreement

MoneyGram International Inc (NASDAQ:MGI) and Alibaba Group Holding Ltd’s (NYSE:BABA) Ant Financial Services Group said on Tuesday they have agreed to terminate their amended merger agreement.

MoneyGram shares were down 8.5 percent at $12.06 in after-market trading.

The companies were unable to get an approval for the deal from the Committee on Foreign Investment in the United States (CFIUS), according to a joint statement.

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Ant Financial paid MoneyGram a $30 million termination fee.