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Ripple is acquiring MoneyGram?

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Posted (edited)
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“I doubt we’ll be selling to the Russians,” MoneyGram CEO Alex Holmes said in an interview with the Dallas Business Journal. “I’m thinking China is definitely off the table. But there could be some buyers out there who have some unique business models that don’t necessarily cause a national security risk more globally or for the United States because of the general nature of those markets.”

Source

Moneygram has 900m $ in debts. Ripple made around 1b$ in cash from XRP sales since 2018.

edit: does anybody have access to the full article by Dallas Business Journal?

 

 

Edited by baggy23

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Posted (edited)
19 hours ago, Mcripple said:

Often read them and think WOW...this is awesome....then realize I'm not sure I trust a single word from this source.  I wish that we'd start seeing mainstream media posting reputable articles.

:JC_doubleup:

Edited by itcdominic
spelling sux

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16 minutes ago, itcdominic said:

then realize I'm not sure I trust a single word from this source.

Just google "deemoney.xctest.i.ripple.com" and you will find out it's legit.

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32 minutes ago, baggy23 said:

Just google "deemoney.xctest.i.ripple.com" and you will find out it's legit.

There is also a twitter ripple subdomain bot - deemoney subdomain found on May 15:

https://twitter.com/XSubdomains/status/1128865335376003073?s=19

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1 hour ago, baggy23 said:

Just google "deemoney.xctest.i.ripple.com" and you will find out it's legit.

All the returned searches reference the same users find.....where are other validations? Are we sure this user didn't fake this code script?

Not saying I won't believe this....just doing what I was taught by Ronald Reagan "Trust but Verify" 

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Posted (edited)
1 hour ago, itcdominic said:

All the returned searches reference the same users find.....where are other validations? Are we sure this user didn't fake this code script?

Not saying I won't believe this....just doing what I was taught by Ronald Reagan "Trust but Verify" 

One option to check ripple.com subdomains is here: https://www.virustotal.com/gui/domain/ripple.com/relations

Or here https//pentest-tools.com/information-gathering/find-subdomains-of-domain#

Or use a tool like sublist3r https://github.com/aboul3la/Sublist3r (list of subdomains found by this tool on 10.06.2019 https://pastebin.com/U9uUgrUH )

Edited by Notabot

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On 6/10/2019 at 9:47 PM, mrenne said:

As I have explained from the beginning, Ripple can not buy all of Moneygram without a public offer on all outstanding shares, which is not the case. If you read the crap that is being spread on Twitter, it's just like Ripple and Moneygram signed a deal last Monday. Except that Moneygram owns only a small part of Moneygram (<5%), so Moneygram can not sell Moneygram to Ripple.

It's the shareholders that can sell Moneygram to Ripple. There is one large shareholder that owns 42% of the company, Thomas H. Lee Partners, and several others that have 3% (the State of Wisconsin, amongst others). So Ripple woud need to sign a deal with THL and at least 3 other minority partners to have a majority.

Fifth, Moneygram has a very heavy debt (about 1bn USD) and the management already talked about a sale of the company when the debt situation is less of a constraint. They are working on it, but I don't see how a company like Ripple would be able to deal with such a heavy debt structure (if they don't sell 3bn XRP to cover up).

Very informative. You definitely know your stuff. But I don’t understand how Ripple can’t acquire Moneygram directly, only acquire a majority from shareholders, yet management discussed the sale of the company when debt was less of a constraint. 

Does “management” mean major shareholders? 

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Public service announcement:  This guy (and the 50 other guys like him, on Twitter) who keeps saying there's no way to buy a company without doing a tender offer for all of the outstanding shares (and that that would necessitate a 13d filing) doesn't know ****.

Here's a crazy question (on the premise of someone in crypto buying MoneyGram):  How are all of these unbanked people supposed to get their paper dough onto their phones, in the first place?  Would that require some sort of physical intermediary to take their cash?  And, then, could that physical intermediary sell them ANY crypto?  (ie, be agnostic?)

This MGI thing isn't as batshit crazy as some of you geniuses make it out to be...  Just sayin'.

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15 minutes ago, Onizuka said:

Does “management” mean major shareholders? 

Management (executive committee) and shareholders are not the same, although some of the managers may have shares in the company (e.g. the CEO of Moneygram is also a shareholder). The executive committee is appointed by the Board of Directors, which represents the shareholders.

1 hour ago, Onizuka said:

But I don’t understand how Ripple can’t acquire Moneygram directly, only acquire a majority from shareholders

It is a little more complicated than that. Only the shareholders can sell their shares to another party and they can even do that without the approval of the management (hostile takeover). In practice, usually the buyer will seek an agreement with the management, together they will make a strategy for the future of the company. This strategic plan together with the takeover offer will be presented to the major shareholders, and if they agree, the buyer will launch an official (public) offer for the remaining shares (in this case the 22%) that is in public hands. This can be you and me. Shareholders will be called to a shareholders' meeting where they will need to approve the sale of their shares to the buyer. Then you can apply for a delisting and take the company private.

The takeover offer includes a certain price that the buyer is willing to pay for the shares (in the case of the takeover bid by Ant Financial last year, 13.25 USD per share). This is usually higher than the share price at that moment, otherwise the shareholders will not be willing to sell their shares. This is price-sensitive information, which needs to be publicly announced as soon as possible, so that all (potential) shareholders have access to the same level of information. You can understand it is unacceptable that some people know there is a takeover bid on the table (and therefore can quickly buy Moneygram shares in order to make quick profit) while other people don't know about it. It is even more unacceptable that people talk about it on Twitter for weeks before there is either a public announcement or a trade halt by the stock exchange.

1 hour ago, Onizuka said:

yet management discussed the sale of the company when debt was less of a constraint.

Moneygram is such a mess (fraud, much lower margins than their direct competitors, losing customers rapidly, bad reputation, high debt) that management can decide the best possible future for a company is to go together with another company. In that case the management will actively look for a buyer, but for that you need to look attractive. The problem is that the 7-year debt refinancing they concluded in 2013 is due next year, this means about 1bn USD needs to be paid back, so they need to refinance this debt before the due date. This brings a lot of pressure and makes the company less attractive. That's why the management announced they would first try to secure refinancing of this debt before to actively look for a buyer.

 

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You're assuming some sort of txtbook/wikipedia-for-m&a tender offer or a proxy fight situation.  For that, your textbook info is correct.  But MGI is mostly held in controlco's w/very concentrated/large stakes.  So, diff...  The open mkt tndr offer scenario you suggest would only cover the public float - in this case, that's too small to *gain* control - hell, the guy with the .01% that makes up the critical difference might even make more than the other shareholders.  Lordy, would that be fair?  Some might call it capitalism.

On debt - this is just some rando on twtr - but:

All I'm saying is... it's *possible*...  None of your bschool 101 objections make it not so.

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On 6/5/2019 at 6:57 PM, Mcripple said:

Per a very very strong rumor and it should be confirmed within days if not today.

 

Source?

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Posted (edited)

Someone know how it went when Ant Financal tried to take over Moneygram lastyear?

Was there also official announcement and offer to all shareholders?

Edited by xrpthestandard

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35 minutes ago, xrpthestandard said:

Someone know how it went when Ant Financal tried to take over Moneygram lastyear?

Was there also official announcement and offer to all shareholders?

Yes of course there was. Jack Ma and I follow the same wikipedia-for-m&a :D

But that's not the main argument. The main argument is the fact that they are not informing shady Twitter people first.

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