Euronet Worldwide Inc., the electronic payments company based in suburban Kansas City, may still be watching from the wings as a competitor faces uncertainty in its long-planned sale to a Chinese company.
Dallas-based Moneygram International Inc., the subject of an acquisition by Chinese billionaire Jack Ma’s Ant Financial, saw its shares drop by 4 percent Thursday with doubts that President Donald Trump would support the deal.
On Tuesday night, Trump blocked a China-backed investment firm from acquiring a U.S. semiconductor company, after it attempted three times to gain approval from the U.S. Committee for Foreign Investment (CFIUS).
Reports suggest Alibaba affiliate Ant Financial may be on its second attempt with CFIUS, which has a 75-day approval window before the company would have to refile.
After Ant Financial and Euronet entered an outspoken bidding war for MoneyGram in March, both companies have remained relatively quiet. Ant Financial’s final bid of $18 per share, a total of more than $1.2 billion at the time, beat Euronet’s unsolicited bit of $15.20 per share. But Euronet continued to advertise its offer as the better prospect, as it would not require regulatory approval from CFIUS.
Read more: Kansas City Business Journal