MoneyGram International (MGI) announced Sunday that it has agreed to be acquired by Ant Financial Services Group. Ant increased its offer for the company to $18 per share in cash, from $13.25 per share.
MoneyGram gapped up sharply Monday and posted gains in early trade, before settling into a range. Shares finished up by 1.28 at $17.79 on above average volume. The stock broke out of a 1-month trading range and set a new high for the year.
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