Intermex disputes Western Union's termination of their merger agreement and asserts readiness to complete the transaction.
Quiver AI Summary
International Money Express, Inc. (Intermex) announced that Western Union has sent a notice attempting to terminate their pending merger agreement after receiving conditional approval from the California Department of Financial Protection and Innovation. Intermex has rejected this termination notice, asserting that it has fulfilled its obligations under the agreement and remains committed to completing the merger. The company plans to pursue all necessary remedies, including specific performance and claims for damages against Western Union. Intermex operates in the money transfer industry, allowing remittances from various countries to over 60 destinations, and is headquartered in Miami, Florida.
Potential Positives
- Intermex has formally rejected Western Union's termination of the merger agreement, demonstrating its commitment to the merger and its belief in the legitimacy of the agreement.
- By asserting its rights under the merger agreement, Intermex is positioning itself to potentially secure substantial damages if the merger does not proceed as planned.
- The successful completion of the merger, if achieved, could significantly enhance Intermex’s market presence and operational capabilities across its international footprint.
Potential Negatives
- Western Union's termination of the merger agreement introduces significant uncertainty, which could hinder Intermex's strategic plans and operations.
- Intermex may incur substantial transaction costs and legal fees as a result of pursuing remedies related to the termination of the merger agreement.
- The ongoing dispute with Western Union poses risks of potential litigation, which could further strain resources and distract from core business operations.
FAQ
What was the recent announcement by Intermex regarding the merger with Western Union?
Intermex announced that Western Union delivered a notice purportedly terminating their merger agreement, but Intermex rejected this termination.
What actions is Intermex taking in response to Western Union's termination notice?
Intermex is demanding that Western Union fulfill the merger obligations and is prepared to enforce its rights under the Merger Agreement.
How has Intermex responded to the California Department's approval?
Intermex has indicated that it remains committed to the merger following the conditional approval from the California Department of Financial Protection and Innovation.
What are the potential risks mentioned regarding the merger?
Potential risks include regulatory approval delays, litigation, and disruptions to Intermex's business operations during the merger process.
Where can I find more information about Intermex?
More information about Intermex can be found on their website at www.intermexonline.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IMXI Revenue
$IMXI had revenues of $126.4M in Q3 2026. This is a decrease of -18.41% from the same period in the prior year.
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$IMXI Hedge Fund Activity
We have seen 76 institutional investors add shares of $IMXI stock to their portfolio, and 85 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ODDO BHF ASSET MANAGEMENT SAS added 1,470,000 shares (+inf%) to their portfolio in Q2 2026, for an estimated $21,241,500
- MORGAN STANLEY added 930,474 shares (+652.9%) to their portfolio in Q2 2026, for an estimated $13,445,349
- LMR PARTNERS LLP added 758,993 shares (+385.6%) to their portfolio in Q2 2026, for an estimated $10,967,448
- ALLIANCEBERNSTEIN L.P. removed 758,209 shares (-33.2%) from their portfolio in Q2 2026, for an estimated $10,956,120
- QUBE RESEARCH & TECHNOLOGIES LTD added 620,602 shares (+117.4%) to their portfolio in Q2 2026, for an estimated $8,967,698
- ALBERTA INVESTMENT MANAGEMENT CORP removed 548,673 shares (-71.0%) from their portfolio in Q3 2026, for an estimated $6,353,633
- CAPULA MANAGEMENT LTD removed 490,191 shares (-77.8%) from their portfolio in Q2 2026, for an estimated $7,083,259
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Full Release
MIAMI, Nov. 11, 2026 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex”) announced that The Western Union Company (NYSE: WU) (“Western Union”) last night delivered to Intermex a notice purportedly terminating the pending merger agreement between the two companies. Western Union’s termination of the Merger Agreement followed its receipt on November 10, 2026 of the conditional approval of the Merger from the California Department of Financial Protection and Innovation. Through its counsel, Intermex has responded to Western Union rejecting Western Union’s purported termination of the merger agreement and demanding that Western Union take all actions necessary to consummate the merger.
Intermex remains committed to the merger, has satisfied all of its obligations under the merger agreement and stands ready to complete the transaction. Intermex will vigorously pursue its remedies and reserves all rights under the Merger Agreement and otherwise, including but not limited to its rights to specific performance and to hold Western Union liable for substantial damages.
About Intermex
Founded in 1994, Intermex enables consumers to send money from the United States, Canada, Spain, Italy, and Germany to more than 60 countries. Intermex provides digital money through agent retailers; Intermex-operated stores; mobile apps; and Intermex’s websites. Transactions are fulfilled through thousands of retail and bank locations worldwide. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, and Madrid, Spain. For more information about Intermex, please visit
www.intermexonline.com
.
Intermex Contact:
Investor Relations
Alex Sadowski
[email protected]
Safe Harbor Compliance Statement for Forward-Looking Statements
Certain statements in this communication may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included or incorporated in this communication are forward-looking statements. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “continued,” “project,” “plan,” “opportunity,” “estimate,” “potential,” “predict,” “demonstrates,” “may,” “will,” “could,” “intend,” “shall,” “possible,” “forecast,” “trends,” “contemplate,” “would,” “approximately,” “likely,” “outlook,” “schedule,” “pipeline,” “expects,” “intends,” “might,”, “assumes,” “estimates,” “approximately,” “shall,” “our planning assumptions,” “future outlook,” “currently,” “target,” “guidance,” and similar and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements are not guarantees of future performance, conditions or results. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These factors and circumstances include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing or at all, including obtaining regulatory approvals and other conditions to the completion of the transaction, as well as the resolution of any dispute with Western Union regarding its purported termination; (ii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement, including the purported notice of termination dated November 10, 2026; (iii) potential significant transaction costs associated with the proposed transaction; (iv) potential litigation or regulatory actions relating to the proposed transaction; (v) the risk that disruptions from the proposed transaction will harm our business, including current plans and operations, and risks related to diverting management’s attention from our ongoing business operations and relationships; (vi) our ability to retain and hire key personnel; (vii) potential adverse business uncertainty resulting from the announcement, pendency or completion of the proposed transaction, including restrictions during the pendency of the proposed transaction that may impact our ability to pursue certain business opportunities or strategic transactions; (viii) failure to obtain regulatory approval of the transaction; and (ix) other risks and uncertainties described in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and those indicated from time to time in other documents filed or to be filed with the SEC by Intermex. The forward-looking statements contained in this communication are based on our current expectations and beliefs concerning future developments and their potential effects on us. If underlying assumptions to forward-looking statements prove inaccurate, or if known or unknown risks or uncertainties materialize, actual results could vary materially from those anticipated, estimated, or projected. The forward-looking statements contained in this communication are made as of the date of this communication, and Intermex disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Persons reading this communication are cautioned not to place undue reliance on forward-looking statements.