Western Union Cancels $500 Million Deal

Money transfer company Western Union has cancelled its agreement to acquire competitor International Money Express, also known as Intermex, for approximately $500 million. The reason cited is conditions imposed by California's regulator.

According to Western Union, the new requirements would have forced the company to significantly change its operating rules and partner relationships. Management decided that continuing the deal under such conditions was no longer in the company's interest.

Western Union reached the acquisition agreement in 2025. The goal of the deal was to expand the money transfer business toward Latin America and the Caribbean, though Intermex does not agree with the decision. The company believes Western Union did not have the right to cancel the agreement and is demanding that the deal be completed.

Intermex also plans to pursue legal action, including a possible claim for damages. The dispute between the two companies could continue in court.

Source: Yahoo Finance