If you enjoy the content at iBankCoin, please follow us on TwitterNEW YORK (AP) — The Western Union Co. said Tuesday it has agreed to acquire Travelex Global Business Payments for about $973.8 million in cash, in a deal that will allow it to expand rapidly in the business of international payment processing.
The Travelex division provides international payments services to business clients, mostly small and medium-sized companies and distribution partners.
Western Union is paying 606 million pounds for the Travelex business. It is expected to boost Western Union’s earnings by 2 cents per share this year and 4 cents per share in 2012. The company expects acquisition related noncash amortization expenses of about $40 million per year beginning in 2012.
The acquisition is expected to close later this year.
Joined Nov 11, 2007
31,929 Blog Posts
WU is going to be the global crack dealer’s banque of choice. Building a nice little monopoly here, free of Dodd Frank.
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