Thread regarding MoneyGram International Inc. layoffs

Western Union to Buy Rival MoneyGram. Get ready for a massive purge in Minneapolis!

Western Union Said in Early Stage Talks to Buy Rival MoneyGram - Western Union Co. is in early-stage talks to acquire smaller rival MoneyGram International Inc., people with knowledge of the matter said, as both companies contend with stiff competition from upstart money-transfer companies.

MoneyGram surged 24 percent to $9.64 as of 10:30 a.m. in New York trading, giving the company a market value of about $513 million. Western Union rose 5.4 percent to $22.08, for a market value of about $11.4 billion.

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