Moneygram International Inc (NASDAQ:MGI) & BB&T Corporation (NYSE:BBT) Traders Alert
On Monday, Shares of Moneygram International Inc (NASDAQ:MGI) gained 7.75% to $17.79. The share price is trading in a range of $17.46 – 17.84. The stock exchanged hands with 4.59 million shares contrast to its average daily volume of 971,993 shares.
Euronet Worldwide, Inc. (“Euronet” or the “Company”) (EEFT), a leading electronics payments provider, recently acknowledges it presented a binding offer to acquire MoneyGram International, Inc. (“MoneyGram”) (MGI) to MoneyGram’s Board of Directors on April 14, 2017. On April 16, 2017, MoneyGram declared it had rejected Euronet’s offer and has reached an amendment to the definitive agreement under which MoneyGram will merge with Ant Financial Services Group (the “Amended Merger Agreement”). Euronet intends to review the Amended Merger Agreement.
Euronet made its initial offer on March 14, 2017. Under the terms of its offer, Euronet projected to acquire all shares outstanding of MoneyGram for $15.20 in cash for each share of MoneyGram Common Stock and MoneyGram Preferred Stock on an as-converted basis. Euronet’s proposal offered for no closing condition related to securing change of control consents covering money transmitter licenses in the jurisdictions in which MoneyGram operates and a $69 million antitrust termination fee. Euronet’s proposal also did not present security concerns and would not be subject to review by the Committee on Foreign Investment in the United States (CFIUS).
Michael Brown, Chairman and Chief Executive Officer of Euronet commented, “We have long believed a combination with MoneyGram would be of great benefit to Euronet and MoneyGram stockholders, customers and other stakeholders of these two great companies, which would be even stronger when combined. We are disdesignated that the MoneyGram board has chosen not to pursue this combination.”
Moneygram International Inc (NASDAQ:MGI) have shown a high EPS growth of 15.20% in the last 5 years and has earnings growth of 164.60% yoy. Analysts have a mean recommendation of 2.80 on this stock (A rating of less than 2 means buy, “hold” within the 3 range, “sell” within the 4 range, and “strong sell” within the 5 range).
Shares of BB&T Corporation (NYSE:BBT) inclined 1.24% to $43.15. The share price of the stock surged 30.69% for the year.
Analysts give BBT a mean recommendation of 2.60. The company has dropped -6.64% in past 3 months and in the last five trades has moved down -2.09%. The stock has earnings growth of 13.40% yoy and showed a high EPS growth of 8.70% over the past five years. The stock’s price moved up its 200-day moving average of $44.50. The stock is presently trading down its SMA-50 of $45.83.