Western Union pulls Intermex acquisition over California hurdles
Western Union announced on 10 November that it has delivered a notice terminating its $500 million agreement to acquire cross-border money-service provider Intermex.
Termination Notice Issued
The merger was first disclosed in August 2025, with an expected closing in mid-2026. At the time of the announcement, both companies highlighted the strategic fit of the transaction, noting that the combined entity would broaden the U.S. retail footprint of the acquirer and enhance cross-border service capabilities for customers.
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Regulatory Hurdles in California
Western Union stated that the termination follows California’s Department of Financial Protection and Innovation (DFPI) delivering “unacceptable final Conditions of Approval” that would require material changes to its business model, agent relationships, and long-term business strategy. The company confirmed it has received approvals from every other jurisdiction, with the exception of California.
Intermex’s Legal Stance
Intermex rejected Western Union’s purported termination, affirming its commitment to complete the transaction. The company stated it “will vigorously pursue its remedies and reserves all rights under the Merger Agreement and otherwise, including but not limited to its rights to specific performance and to hold Western Union liable for substantial damages”.
