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MoneyGram gains after winning New York approval for sale to Madison Dearborn

  • MoneyGram (NASDAQ:MGI) rose 1% after it won approval from a New York regulator for its planned sale to Madison Dearborn Partners.
  • New York's Dept. of Financial Services approved the sale of MoneyGram (MGI) to the private equity firm earlier this month, according to a filing on the regulator's website.
  • The approval is important as New York was one of the few remaining stakes that needed to OK the sale. The transaction is still awaiting approval from two other states, the company disclosed in its earnings release earlier this month.
  • MoneyGram (MGI) agreed to be sold to Madison Dearborn for $11/share in February.