- MoneyGram and Ant Financial mutually terminate $1.2 billion proposed merger
- CFIUS’s concerns focused on cyber and information security
- Scrutiny of buyers’ information security processes is likely to increase
By Thad McBride and Todd Overman with help from law clerk Nicole Giles
On January 2, 2018, U.S.-based MoneyGram International announced that its proposed acquisition by Ant Financial, a Chinese company owned by Alibaba, was being blocked by the U.S. Committee on Foreign Investment in the United States (CFIUS). CFIUS is the U.S. government’s inter-agency committee tasked with reviewing foreign entities’ purchases of and investments in U.S. companies when the transaction could pose a threat to U.S. national security.