Another bidder for MoneyGram
Private-equity firm GTCR has joined the suitors in pursuit of MoneyGram International, The Post has learned.
GTCR is in talks with management and is still several weeks away from making a binding bid, a source close to the situation said.
Several other buyout firms are also expressing interest in the No. 2 money-transfer company, the source said.
A deal for MoneyGram would mark one of the biggest investments for GTCR, whose founder, businessman Bruce Rauner, is running for Illinois governor as a Republican.
MoneyGram could fetch $2.5 billion in a sale.
Western Union is the biggest player in the money-transfer business and controls around 15 percent of the market.
Moneygram has around 5 percent. Both have had to match lower prices from online rivals to stay competitive.
Dealreporter first reported that Moneygram was for sale.
MoneyGram shares fell 1.3 percent yesterday to $20.36.
GTCR did not return calls. MoneyGram declined comment.

