Intermex Shares Drop Following Western Union Update on Deal Termination Clause
Shares of International Money Express (IMXI) fell approximately 13% in after-hours trading following a disclosure from Western Union (WU). In its third-quarter earnings report, Western Union noted that the existing agreement between the two companies includes a clause allowing either party to terminate the deal if it is not finalized by November 10. The uncertainty regarding the completion of the transaction has weighed heavily on IMXI's valuation. Conversely, Western Union shares saw an increase in trading following its quarterly results, suggesting market sentiment remains focused on WU's broader financial performance despite the potential for deal termination.
Topics: earnings report partnership termination clause stock price drop
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