China's Ant Financial, the Alibaba affiliate responsible for AliPay, has reached a deal to buy Dallas-based MoneyGram, but such a bold move hasn't gone unchallenged.
is offering to pay $15.20 for each MoneyGram common share and preferred stock and assume about $940 million of MoneyGram’s outstanding debt, topping Ant Financial’s offer of $13.25 per share by about 15%.
And while Ant is reportedly considering a higher offer
, U.S. lawmakers have thrown up a roadblock by requesting an investigation
of the Ant-MoneyGram deal.