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.