MoneyGram International Inc has decided to remain public after talks with private equity firms over a leveraged buyout did not result in an offer in line with its expectations, three people familiar with the matter said this week.
The world's second-largest money transfer company was in final-stage discussions with Carlyle Group LP , two of the people said. One of the people added that MoneyGram's board was hoping for an offer in the mid-$20s-per-share range.
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The sources requested anonymity because the talks about a sale were confidential. MoneyGram representatives did not respond to requests for comment while Carlyle declined to comment.
With 327,000 locations in retailers, post offices and banks in nearly 200 countries and territories, MoneyGram is second only to Western Union Co among money transfer providers.
Bank of America Corp ran an auction for MoneyGram earlier this summer that also attracted interest from TPG Capital LP, Bain Capital LLC and GTCR LLC, people familiar with the matter previously said.
(Reporting by Soyoung Kim, Greg Roumeliotis and Jessica Toonkel in New York: Editing by Bernard Orr)