OzForex Receives Knock on the Door from Payment Behemoth WesternUnion

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Morningstar

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Morningstar, Inc.

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Equity Bottom-Up

After months of exclusive due diligence, Western Union has not made a binding offer for OzForex and discussions have been terminated. More disappointing is fiscal 2016 earnings guidance being reduced. While a binding offer at a premium to our fair value estimate was a desirable outcome, we continue to believe stand-alone OzForex is an attractive business with attractive growth prospects. Providing customers a low-cost, simple, secure and fast way to make international payments we see scope for continued client acquisition.Analyst: Nathan Zaia

After months of exclusive due diligence, Western Union has not made a binding offer for OzForex and discussions have been terminated. More disappointing is fiscal 2016 earnings guidance being reduced. While a binding offer at a premium to our fair value estimate was a desirable outcome, we continue to believe stand-alone OzForex is an attractive business with attractive growth prospects. Providing customers a low-cost, simple, secure and fast way to make international payments we see scope for continued client acquisition.Analyst: Nathan Zaia

Earnings Guidance Disappoints and No Binding Offer Eventuates

OFX Group

Earnings Guidance Disappoints and No Binding Offer Eventuates