By Greg Roumeliotis

(Reuters) – Non-public fairness companies Madison Dearborn Companions LLC, Siris Capital Group LLC and Introduction Worldwide Corp have made competing gives to accumulate MoneyGram Worldwide Inc, based on folks accustomed to the matter.

The Dallas-based firm launched into a overview of its choices after Madison Dearborn supplied $10.50 per share in money to accumulate it, the sources mentioned. Introduction had additionally expressed curiosity final yr in taking on the corporate, the sources added.

MoneyGram set a Jan. 24 deadline to obtain binding acquisition gives, and expects to determine on whether or not it can promote itself within the coming days, based on the sources.

It isn’t clear how a lot MoneyGram, one of many world’s largest cash switch firms with a market worth of $850 million, will find yourself promoting for.

The sources, who requested anonymity to debate the confidential matter, cautioned that no deal is definite.

Spokespeople for MoneyGram, Madison Dearborn, Siris and Introduction didn’t instantly reply to requests for remark.

MoneyGram has turn out to be an acquisition goal as intense competitors from digital rivals resembling Remitly World Inc and Revolut has weighed on its skill to capitalize on the rising marketplace for funds and remittances.

MoneyGram, which based on its web site has served 150 million folks within the final 5 years, has been specializing in digital funds as an space of development. In October, it introduced a blockchain partnership that depends on monetary expertise agency Circle’s , one of many world’s fastest-growing greenback digital currencies. Earlier this month, it unveiled one other partnership with Japanese monetary expertise agency Digital Pockets Corp to facilitate worldwide cash transfers.

A $1.2 billion deal for China’s Ant Monetary to accumulate MoneyGram was blocked by the USA in January 2018 on nationwide safety issues. MoneyGram shares took a success consequently, however have since recovered. They’ve surged 43% within the final 12 months, in contrast with a 2% rise within the index.