Western Union Refiles Antitrust Notification as Intermex Deal Stalls on California Review
Company Background
Western Union is a global money transfer and cross-currency payments company operating in more than 200 countries and territories, with approximately $4.1 billion in annual revenue. The core Consumer Money Transfer segment has been in a sustained decline, with North America retail revenues falling in the double-digit percentage range every quarter since early 2025. GAAP operating income fell 31% year-over-year in both the first and second quarters of 2026, compressing the GAAP operating margin to 13% in each quarter from roughly 19% a year earlier.
In August 2025, Western Union announced a deal to acquire International Money Express, Inc. (Intermex), a Miami-based remittance provider focused on Latin American corridors. Management positioned the acquisition as a means to strengthen WU's retail presence in the Americas, a market where it has been losing ground. The company pre-positioned financing for the deal — including an $800 million delayed draw term loan arranged in January 2026 and $615 million in new notes issued in March and May 2026 — but the closing has now slipped well past its original mid-2026 projected timetable.
What Was Disclosed
Western Union and Intermex filed new Premerger Notification and Report Forms under the Hart-Scott-Rodino Act with the FTC and the DOJ on October 2, 2026. The re-filing was required because HSR clearance is valid for only one year following the expiration of the original waiting period, which occurred on October 6, 2025. The new filing initiates a fresh 30-day waiting period; the companies have requested early termination.