Western Union ends Intermex deal over California conditions

Western Union Company, listed on the New York Stock Exchange as WU, said on November 11, 2026, that it has delivered a notice terminating its agreement to acquire International Money Express, Inc. (Intermex), which trades on the Nasdaq as IMXI.

The company said it worked with Intermex and the relevant regulatory authorities to obtain the approvals needed to complete the deal, but the parties were unable to secure one that was acceptable. On the evening of November 10, 2026, California's Department of Financial Protection & Innovation (DFPI) delivered final Conditions of Approval that Western Union called unacceptable. The company said those conditions would have required material changes to its business model, its agent relationships and its long-term strategy. It considered them substantial and said they were not in the best interests of the company, its agents or its shareholders.

Company's response to the conditions

Western Union said California did not identify any failure to comply with legal requirements on preventing fraud and scams, preventing money laundering, or providing fair and competitive access for customers. The company also said it has been and continues to be in compliance with its consent order with the Federal Trade Commission. It remains committed to strong compliance programs and to meeting its regulatory obligations globally.

Approval history

California granted the initial approval request on February 11, 2026, without the unacceptable conditions. DFPI extended the request on April 17, 2026, and again on July 31, 2026. Thirteen days after the second extension, DFPI withdrew the approval it had granted, despite no meaningful change in the company's business or operations.

Western Union had received approvals from every jurisdiction except California. Those approvals covered 54 states, territories and foreign countries, including merger clearance in the United States and change of control filings in the United Kingdom and Spain.

After a review with legal and financial advisors and management, Western Union's Board of Directors decided to terminate the merger agreement. Under its terms, neither company must pay the other in connection with the termination.

Devin McGranahan, President and Chief Executive Officer of Western Union, said the teams at both companies "worked diligently for over a year to pursue the transaction." He said the company was disappointed it could not complete the deal on acceptable terms, but believed ending it was "in the best interests of the company and its shareholders." He added that Western Union remains focused on its strategy and on long-term value for customers, shareholders and other stakeholders.