Intermex rejects Western Union's move to terminate merger agreement
WU•Intermex rejected Western Union’s notice terminating their merger agreement and demanded that the transaction be completed. Intermex says it has met its obligations and may seek to compel completion or substantial damages.
1. Intermex disputes termination
Intermex said on Nov. 11 that it rejected Western Union’s Nov. 10 notice terminating their merger agreement and demanded completion of the transaction. Western Union issued the notice after receiving conditional merger approval from the California Department of Financial Protection and Innovation. Intermex says it has met its obligations and remains ready to close; it may seek to compel completion or hold Western Union liable for substantial damages.
