April 17, 2017 / 1:19 AM / 3 months ago

China's Ant Financial raises offer for MoneyGram to $1.2 bln

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SINGAPORE, April 17 (Reuters) - China's Ant Financial has raised its offer for electronic payment firm MoneyGram International Inc and the deal was unanimously approved by the U.S. firm's board, outbidding rival Euronet Worldwide Inc .

Ant, the finance affiliate of Alibaba Group Holding Ltd , increased its offer to $18 per share in cash from $13.25, and the transaction is valued at around $1.2 billion, a statement by Ant and Moneygram said.

Reporting by Miyoung Kim; Editing by Edwina Gibbs

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