Posts for Ticker ‘MGI’

Haiti Donations, Company-by-Company (MS, JPM, BAC, GS, JEF, WFC, WMT, TGT, RAD, MCD, YUM, KO, PEP, K, GIS, GOOG, DIS, CA, T, VZ, WU, MGI, UTX, UPS, ABT, AMGN, HUM)

We have compiled from press releases and from company announcements a company-by-company donation and effort pledge to help in the relief efforts after the disastrous earthquake in Haiti.  These are partial explanations of the efforts, and some lack how the funds are being donated and may lack the exact sources inside.  There are many other companies which have probably made announcements that were not seen, but here is a partial list we have compiled in groups of related companies:
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Posted on: January 14, 2010 – 6:23 pm in Corporate Governance, Economy, Emerging Markets, Entertainment, Politics, Shareholder Issues, , , , , , , , , , , , , , , , , , , , , , , , , , ,

MoneyGram Recapitalizes.. What’s Left? (MGI, GS)

MoneyGram International, Inc. (NYSE: MGI) has completed its recapitalization that was led by affiliates of Thomas H. Lee Partners and Goldman Sachs (NYSE: GS).  Here is a breakdown of how the financing pact looked:

EQUITY (convertible): Affiliates of both Thomas H Lee and Goldman Sachs purchased $760 million of Series B and Series B-1 Preferred Stock, which are convertible into 79% of the common equity of the MoneyGram at an initial conversion price of $2.50 per share.

DEBT & CREDIT: Affiliates of Goldman Sachs have placed $500 million into the company as debt financing.  Lastly, it secured an additional $250 million in senior debt financing.  Following the completion of this transaction, MoneyGram will have $100 million of revolving credit available under a previously existing $350 million credit agreement, which was modified to provide for an extended term.

The company is going to use its relationship and contract extensions with Wal-Mart and ACE Cash Express as part of its basis.  It also noted that money transfers are a source of growth and it now claims some 150,000 agent locations in its 180 country network.

We first started reviewing this stock for our Special Situation newsletter at the end of 2007 when there were still some bottom-fishing deals being announced, but we couldn’t see the end of the malaise in sight for this company.  After a huge drop in January we again reviewed this one and still couldn’t see this one living without a total bail-out.  Now that this deal has closed, we will put this under a closer review for Special Situation to see if there is any value after this afternoon’s rapid rise.  You can also join our open email distribution list to see previews for topics involving M&A, reorganizations, break-ups, back door plays into IPO’s, and more.

Shares closed up literally 30% today at $2.33.  But its 52-week trading range is $1.55 to $30.67, so it isn’t exactly an "immediate turnaround and make whole" situation.  We’ll be keeping our eyes on this one and its related securities.

Jon C. Ogg
March 25, 20008

Jon Ogg produces the Special Situation Investing Newsletter and can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: March 25, 2008 – 5:07 pm in Mergers and Buy Outs, Private Equity, Turnarounds, ,

The 52-Week Low Club (XRM)(MGI)(BGP)(DVAX)(NUVO)(SHFL)

Xerium Technologies (XRM) delays 10-K and risk of default. Falls to $1.16 from 52-week high of $9.20.

Moneygram (MGI) is taken out of one of the S&P indexes. Down to $1.62 from 52-week high of $30.67.

Borders Group (BGP) Bad time to be in the print business. Down to $6.98 from 52-week high of $24.15.

Dynavax Technologies (DVAX) FDA halts trials of a company drug. Falls to $2.07 from 52-week high of $6.55.

Nuvelo (NUVO) Cuts staff and announces failure of drug trial. Down to $.55 from 52-week high of $6.63.

Shuffle Master (SHFL) Post loss for quarter. Drops to $5.13 from 52-week high of $19.78.

Douglas A. McIntyre

Posted on: March 18, 2008 – 2:56 pm in HI/LOW, , , , , ,

The 52-Week Low Club (FNM)(MYL)(PDLI)

Moneygram (MGI) Deal to buy company falls apart. Drops to $2.45 from 52-week high of $30.67.

Universal American Financial (UAM) Cuts profit view for the year.Drops to $11.47 from 52-week high of $26.50.

Fannie Mae (FNM) Down on debt sales news. Drops to $23.84 from 52-week high of $70.57.

Mylan Labs (MYL) Weak outlook for upcoming period. Sells off to $10.67 from 52-week high of $22.90.

PDL Biopharma (PDLI) Cutting large numbers of jobs and halting M&A. Falls to $10.36 from 52-week high of $27.98.

UCBH Holdings (UCBH) Bank issues revision of loan-loss provisions taken during the fourth quarter. Sells down to $8.82 from 52-week high of $20.22.

Douglas A. McIntyre

Posted on: March 5, 2008 – 4:22 pm in HI/LOW, , , , , ,

The 52-Week Low Club

Bankatlantic (BBX) Real estate loans lead to loss. Falls to $4.05 from 52-week high of $14.

Moneygram (MGI) Two recent analyst downgrades. Drops to $14.42 from 52-week high of $35.18.

Journal Register (JRC) Newspaper stocks still getting pushed down. Drops to $2.23 from 52-week high of $8.60.

Trident Microsystems (TRID) Bad quarter. Shares down to $6.80 from 52-week high of $23.59.

Micrel (MCRL) Wall St. unhappy about earnings. Falls to $8.61 from 52-week high of $13.98.

Douglas A. McIntyre

Posted on: October 26, 2007 – 3:01 pm in HI/LOW, , , , ,

The 52-Week Low Club

Noah Education (NED) New China IPO, gets pulled down by drop in region’s stocks. Drops to $16.50 from recent high of $23.70.

Moneygram (MGI) Fitch cuts rating. Falls to $17.67 from 52-week high of $35.18.

MGIC Investment (MTG) Analyst puts "underweight" rating on mortgage lender. Down to $20.09 from 52-week high of $70.10.

Angiotech Pharmaceuticals (ANPI) Cuts guidance and get downgrade. Down to $4.18 from 52-week high of $9.67.

Douglas A. McIntyre

Posted on: October 22, 2007 – 4:41 pm in HI/LOW, , , ,