Western Union's Antitrust Clock On International Money Express Deal Runs Out, Clearing Federal Hurdle
The U.S. waiting period on the planned merger expired Monday night, but California's suspended approval still has to be reinstated.
Western Union, which moves money across borders through agent locations, its own stores, websites and apps, said the U.S. antitrust waiting period on its planned purchase of International Money Express expired at 11:59 p.m. Eastern on Monday, in an 8-K filed Tuesday. The deal still needs California to reinstate an approval it suspended.
A refiled review runs out
The two companies each filed new premerger notification forms on October 2, 2026, with the Federal Trade Commission and the Justice Department's Antitrust Division, the company said. The new filings were needed because the earlier ones lapsed with the passage of time.
Expiration of the waiting period under the Hart-Scott-Rodino Act, the federal premerger review law, was a condition of closing under the merger agreement.
California approval still suspended
The merger remains subject to reinstatement of the suspended approval from the California Department of Financial Protection and Innovation, along with satisfaction or waiver of the agreement's other closing conditions, the company said.
Under the agreement signed August 10, 2025, Ivey Merger Sub, a wholly owned Western Union subsidiary, will merge into International Money Express. The target would survive as a wholly owned Western Union subsidiary.
The business behind the deal
Western Union's revenue comes mainly from fees customers pay to send money, plus the gap between the exchange rate it sets and the wholesale rate. According to its 10-K, Consumer Money Transfer made up 87% of 2025 revenue, and Consumer Services, which covers bill payment, money orders, travel money and similar products, made up 13%.
As of December 31, 2025, its agent network spanned more than 200 countries and territories, and about 360,000 locations had handled money transfers in the previous 12 months.
California's Department of Financial Protection and Innovation is now the remaining gating item the filing names for closing the deal.
Sources
- 8-K Filing — Western Union CO (WU) — SEC EDGAR
