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DENVER/MIAMI - Western Union (NYSE:WU) and International Money Express (NASDAQ:IMXI) announced Tuesday that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired for Western Union's planned acquisition of Intermex. According to InvestingPro data, Intermex currently has a market capitalization of $419 million and maintains a healthy financial position with a "Good" overall health score.
The expiration represents a key regulatory milestone toward completing the transaction, which was announced earlier this year. The acquisition is still subject to additional regulatory approvals, Intermex stockholder approval, and other customary closing conditions, with an expected closing in mid-2026.
Western Union provides cross-border money movement and payment services across more than 200 countries and territories, while Intermex specializes in money transfer services from the United States, Canada, and several European countries to more than 60 countries worldwide. Intermex has demonstrated strong operational performance, generating $642 million in revenue over the last twelve months, with a solid gross profit margin of 35%.
The companies did not disclose financial terms of the transaction in their statement. The acquisition would expand Western Union's presence in the remittance market, particularly in Latin American corridors where Intermex has established operations. InvestingPro analysis suggests Intermex is currently undervalued, with strong fundamentals including a P/E ratio of 8.6 and healthy liquidity metrics. Discover detailed valuation analysis and 8 additional ProTips with an InvestingPro subscription.
Intermex, founded in 1994 and headquartered in Miami, operates through a network of agent retailers, company-operated stores, mobile applications, and websites. The company fulfills transactions through thousands of retail and bank locations globally.
The announcement comes as money transfer companies face increasing competition from digital payment platforms and fintech startups in the cross-border payments space. Despite industry challenges, Intermex has maintained strong financial health, with liquid assets exceeding short-term obligations and a return on equity of 36%.
This information is based on a press release issued by the companies.
In other recent news, International Money Express, Inc. (Intermex) has announced a strategic partnership with African fintech company Zeepay to expand its money transfer services to African communities abroad. This collaboration will initially focus on facilitating remittances for Africans residing in the United States, with plans to extend to Zeepay's retail stores in the U.S. and digital channels in Europe. In a significant development, Western Union has agreed to acquire Intermex in an all-cash deal valued at approximately $500 million, equating to $16.00 per share. This acquisition is anticipated to enhance Western Union's retail presence in North America and broaden its market reach in Latin America. The transaction is expected to finalize by mid-2026, pending regulatory and stockholder approval. In light of the acquisition announcement, Northland has downgraded Intermex's stock from Outperform to Market Perform, aligning with the acquisition offer of $16.00 per share. These recent developments mark a period of transformation for Intermex as it navigates partnerships and acquisitions.
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