<p>Money transfer firm Western Union has made a takeover offer to MoneyGram International, according to a report by <a href="https://www.bloomberg.com/news/articles/2020-06-01/western-union-is-said-to-make-offer-to-buy-moneygram?sref=w3vFo7gi" target="_blank" rel="noopener noreferrer">Bloomberg</a>.</p> <p>Citing a source familiar with the process, Bloomberg reported that while a takeover offer has been submitted, "[n]o final decision has been made and Western Union could opt to not proceed with a potential deal, the person said."</p> <p>The publication added that MoneyGram and Western Union declined to comment when reached. MoneyGram's stock price rose sharply during after-hours trading, according to public market data. </p> <p>Should the deal go through, Western Union would acquire a business that has an existing business relationship with distributed ledger startup Ripple, which owns a 9.95% stake in Moneygram. As previously reported by <a href="https://www.theblockcrypto.com/post/63855/ripple-paid-16-6-million-in-xrp-incentives-to-moneygram-in-q1-2020" target="_blank" rel="noopener noreferrer">The Block</a>, MoneyGram uses Ripple's On-Demand Liquidity product to facilitate cross-border remittances, and Ripple pays Moneygram in the form of XRP as part of an incentive program focused on market development.</p> <p>Western Union previously conducted <a href="https://www.coindesk.com/western-union-pilot-program-ripple-labs?amp=1&amp;" target="_blank" rel="noopener noreferrer">a pilot program</a> with Ripple, focused on payment settlement.</p> <p><em>Image Credit: <a href="https://www.shutterstock.com/image-photo/new-york-usa-january-27-2016-368828660" target="_blank" rel="noopener noreferrer">DW labs Incorporated / Shutterstock.com</a></em></p>